Question

Prepare the Accounting Equation on the basis of the following: 1. Rakesh commenced business with cash: Rs 150,000 2. Furniture purchased for cash: Rs 20,000 3. Purchased goods from Mahesh on credit: Rs 25,000 4. Sold goods (costing Rs 10,000) to Mohan for cash: Rs 14,000 5. Additional Capital introduced: Rs 20,000 6. Commission received in advance: Rs 2,000 7. Paid to creditor (Mahesh) in full settlement: Rs 22,500 8. Sold goods (costing Rs 15,000) for Rs 18,000 out of which Rs 5,000 received in cash. 9. Depreciation on furniture provided at 10%.

          Prepare the Accounting Equation on the basis of the following:
1. Rakesh commenced business with cash: Rs 150,000 
2. Furniture purchased for cash: Rs 20,000 
3. Purchased goods from Mahesh on credit: Rs 25,000 
4. Sold goods (costing Rs 10,000) to Mohan for cash: Rs 14,000 
5. Additional Capital introduced: Rs 20,000 
6. Commission received in advance: Rs 2,000 
7. Paid to creditor (Mahesh) in full settlement: Rs 22,500 
8. Sold goods (costing Rs 15,000) for Rs 18,000 out of which Rs 5,000 received in cash. 
9. Depreciation on furniture provided at 10%.

Added by William J.

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