Question
Apply the accounting equation Asset = Liability + Equity and prepare a tabular balance sheet from the below-given transactions of M/s. Al Anwar Super Market.
Apply the accounting equation Asset = Liability + Equity and prepare a tabular balance sheet from the below-given transactions of M/s. Al Anwar Super Market.
1. Ms. Mariam invested AED 80,000 Cash as a Capital investment in M/s. Al Anwar Super Market.
2. Purchased Refrigerators worth AED 30,000 and paid cash of AED 10,000 and balance on account payable.
3. Paid salary to staff of AED 8,000 in Cash
4. Sold food items worth AED 40,000 for cash.
5. Purchased an Inventory of dairy products worth AED 10,000 in Cash.
6. Purchased delivery van costing AED 50,000 and paid the AED 10,000 by cash and balance took a loan from ABCD Bank.
in a table
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