(c) Paid office Q. No. 27. (Assets = Liabilities + Capital) Prove that an accounting equation is satisfied in all the following transactions: (a) Radha started a business with cash ? 50,000 and goods \( ? 10,000 \). (b) Purchased goods for cash \( ? 10,000 \) and on credit \( ? 10,000 \). (c) Goods costing \( ? 10,000 \) sold for \( ? 12,000 \) in cash. (d) Introduced fresh capital ? 20,000 . (e) Goods distributed as free gifts \( ? 1,000 \). (f) Withdraw for personal use ? 2,000 (Ans.: Cash ? 70,000 ; Goods ? 9,000 ; Creditors ? 10,000 ;
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Assets: Cash ₹ 50,000 + Goods ₹ 10,000 = ₹ 60,000 Liabilities: ₹ 0 Capital: ₹ 60,000 So, Assets = Liabilities + Capital (₹ 60,000 = ₹ 0 + ₹ 60,000) Show more…
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