Understanding the Accounting Equation Through an Illustration No 2
Here is the illustration or Example of Accounting Equation from the book of principles of accounting i.com part 1 or b.com part, chapter 2 for understanding the accounting equation through an illustration 2. Solve the following transactions in accounting equation 2014 June 1 . Mr. Salman started his business with cash Rs.10,00,000 5 . Purchased Furniture for cash Rs.4,000 6. Purchased Goods for Cash Rs.25,000 10. Paid Transportation on goods purchased Rs.1,000 12. Sold Goods For cash Rs.15,000, costing Rs.11,000 15. Purchased Goods on credit basis for Rs.15,000 ...