1.

Show the effect of the following transactions and also prepare a Balance Sheet:(i) Started business with cash ₹ 60,000.(ii) Rent received ₹ 2,000.(iii) Accrued interest ₹ 500.(iv) Commission received in advance ₹ 1,000.(v) Amount withdrawn ₹ 5,000.

Answer» Show the effect of the following transactions and also prepare a Balance Sheet:

(i) Started business with cash ₹ 60,000.

(ii) Rent received ₹ 2,000.

(iii) Accrued interest ₹ 500.

(iv) Commission received in advance ₹ 1,000.

(v) Amount withdrawn ₹ 5,000.


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