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Q#3. Show the effect of the following transactions in the accounting equation: (1) Mr. Jameel commenced business with cash Rs. 135,000 and Building 100,000. (ii)
Q#3. Show the effect of the following transactions in the accounting equation: (1) Mr. Jameel commenced business with cash Rs. 135,000 and Building 100,000. (ii) He purchased goods worth Rs. 56,000 for cash, subject to a trade discount of 10% (i) He sold goods to Laeeq for Rs. 41.000 costing Rs. 38,000 on credit busis. (iv) He paid salaries Rs. 4,000. (v) Depreciation on Building Rs. 7,000
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