Chapter 5 – Accounting Equations – TS Grewal 2022
Question 7
Show the effect of the following transactions on the Accounting Equation:
(i) Started business with cash ₹50,000.
(ii) Salaries paid ₹2,000
(iii) Wages outstanding ₹200.
(iv) Interest due but not paid ₹100
(v) Rent paid in advance ₹150
Solution:
Show the effect of the following transactions on the accounting equation
