Show the Accounting equation on the basis of follwing information:- (i) Capital introduced by Habib to start the business Rs. 1,00,000 (ii) Purchased Supplies for cash Rs. 10,000 (iii) Purchased furniture for cash Rs. 50,000 (iv) Purchased Supplies on credit from Park Avenue Stores Ltd. Rs. 20,000. (v) Total Revenue earned during the month in cash Rs. 50,000. (vi) Payment of expenses in cash Rs. 20,000

Show the Accounting equation on the basis of follwing information:-

1.	Show the Accounting equation on the basis of follwing information:- (i) Capital introduced by Habib to start the business Rs. 1,00,000 (ii) Purchased Supplies for cash Rs. 10,000 (iii) Purchased furniture for cash Rs. 50,000 (iv) Purchased Supplies on credit from Park Avenue Stores Ltd. Rs. 20,000. (v) Total Revenue earned during the month in cash Rs. 50,000. (vi) Payment of expenses in cash Rs. 20,000
Answer» TION:cash. + stock + FURNITURE = capital+ cred1,00,000. +10,000 = 1,00,000-10,000. = 1,00,000-50,000 + + 50,000 = 1,00,000+ + 20,000. =1,00,000+20,00050,000. = 50,000-20,000. = -20,000net result(ASSETS)cash =70,000stock= 30,000furniture= 50,000net result (LIABLITIES+ capital)capital=1,30,000creditor=20,000

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