Chapter 5 – Accounting Equations – TS Grewal 2022
Question 11
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(v) Amount withdrawn ₹5,000.
Solution:
Show the effect of the following transactions and also prepare a balance sheet
