Chapter 5 – Accounting Equations – TS Grewal 2022
Question 8
What will be the effect of the following on the Accounting Equation?
(i) Harish started business with cash ₹18,000.
(ii) Purchased goods for cash ₹5,000 and on credit ₹2,000.
(iii) Sold goods for cash ₹4,000 (costing ₹2,400)
(iv) Rent paid ₹1,000 and rent outstanding ₹200
Solution:
What will be the effect of the following on the accounting equation
