Question
Q 4 Mr. Hamza is a wholesale trader, following transactions are recorded in accounting equation Feb 1, Commenced business with cash rupees 200000 and land
Q 4 Mr. Hamza is a wholesale trader, following transactions are recorded in accounting equation Feb 1, Commenced business with cash rupees 200000 and land rupees 50000 Feb 3, Brought merchandise cash for rupees 80000 Feb 4, Cash sales of worth rupees 25000 Feb 5, bought goods on credit term of worth rupees 50000 Feb 6, Sales on account to Ali Raza of rupees 12000 Feb 7, Purchased furniture of value of rupees 5000 by cash Feb 8, received cash from Ali Raza of rupees 10000 Feb 9, return defective furniture of worth rupees 1500 Feb 12, Paid wages 1000, rent 2000 and electricity bill payable rupees 1500. Required: make accounting equation.
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