Vinod has the following transactions. Show accounting equation for the

1.	Vinod has the following transactions. Show accounting equation for the same: (i) Started business with cash Rs.30,000; Stock Rs.12,000; Machinery Rs.20,000; Furniture Rs.10,000. (ii) 13rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash. (iii) Cash withdrawn for personal use Rs.2,000. (iv) Interest on drawings charged 5 %.
Answer» Vinod has the following transactions. Show accounting equation for the same: (i) Started business with cash Rs.30,000; Stock Rs.12,000; Machinery Rs.20,000; Furniture Rs.10,000. (ii) $\frac{1}{3}$ rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash. (iii) Cash withdrawn for personal use Rs.2,000. (iv) Interest on drawings charged 5 %.

Vinod has the following transactions. Show accounting equation for the same: (i) Started business with cash Rs.30,000; Stock Rs.12,000; Machinery Rs.20,000; Furniture Rs.10,000. (ii) 13rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash. (iii) Cash withdrawn for personal use Rs.2,000. (iv) Interest on drawings charged 5 %.

Answer»

Vinod has the following transactions. Show accounting equation for the same:

(i) Started business with cash Rs.30,000; Stock Rs.12,000; Machinery Rs.20,000;
Furniture Rs.10,000.

(ii) $\frac{1}{3}$ rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash.

(iii) Cash withdrawn for personal use Rs.2,000.

(iv) Interest on drawings charged 5 %.