Chapter 5 – Accounting Equations – TS Grewal 2022
Question 16:-
Show an accounting equation on the basis of the following transactions:
| (i) Sunil started business with cash. | 1,50,000 |
| (ii) Opened a Bank Account by depositing ₹25,000 out of cash. | |
| (iii) He sold his personal car for ₹50,000 and deposited the amount in the firm’s Bank Account. | |
| (iv) He purchased a building and furniture for | 1,00,000 |
| (v) He purchased goods from Ram on credit. | 50,000 |
| (vi) He paid cartage | 500 |
| (vii) He sold to Shyam on credit goods costing ₹6,000 for | 9,000 |
| (viii) Received rent from tenants. | 1,000 |
| (ix) Received security deposit from tenants | 1,500 |
| (x) Purchased stationery for cash | 100 |
| (xi) Invested in shares (personal) | 50,000 |
| (xii) Received interest in cash | 200 |
| (xiii) Introduced fresh capital | 25,000 |
| (xiv) Goods destroyed in fire | 500 |
Solution:
Sunil started business with cash
