Chapter 5 – Accounting Equations – TS Grewal 2022
Question 13
Prepare an accounting equation from the following:
(i) Started business with cash ₹50,000 and goods ₹30,000.
(ii) Purchased goods for cash ₹30,000 and on credit from Karan ₹20,000.
(iii) Goods costing ₹40,000 were sold for ₹55,000
(iv) Withdrew cash for personal use ₹10,000.
(v) Rent outstanding ₹2,000.
Solution:
Prepare an accounting equation from the following
