Show the following transactions by using accounting equation: (i) Ramesh started business with cash 3,00,000 (ii) Deposited
Question:
Show the following transactions by using accounting equation:
(i) Ramesh started business with cash ₹3,00,000
(ii) Deposited cash into bank ₹1,20,000
(iii) Purchased furniture for ₹35,000 in cash
(iv) Purchased goods from Deepak of ₹15,000 in cash
(v) Sold half of goods to Mohan for ₹37,000 in cash and paid salary ₹7,000
(vi) Purchased goods from Deepak of ₹12,000
(vii) Sold goods costing 7,500 to Mohit for ₹28,000 and paid commission ₹2,500
(viii) Received commission ₹3,000 by cheque
(ix) Paid to Deepak ₹12,000 by cheque
(x) Received cheque from Mohit of ₹15,000
(xi) Paid rent for the month by cheque ₹8,000
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