Anil had the following transactions in an accounting year: (a) Commenced business with cash ` 50,000 (b)

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Anil had the following transactions in an accounting year:

(a) Commenced business with cash ` 50,000

(b) Purchased goods for cash ` 20,000 and on credit ` 30,000

(c) Sold goods for cash ` 40,000 costing ` 30,000

(d) Rent paid ` 500

(e) Rent outstanding ` 100

(f) Bought printer on credit ` 5000

(g) Bought TV for personal use ` 5000

(h) Purchased Computer for cash ` 20,000 Use accounting equation to show the effect of the above transactions on his assets, liabilities and capital.

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Financial Accounting For Hotels

ISBN: 9781259004940

1st Edition

Authors: Prasanna Kumar JP, Linda Nalini Danie, Mruthyunjaya V. Pagad

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