Question
Following are some transactions, you are required to show their effect on basic accounting equation. A business is proposed to be started by Mr. Ahmad
Following are some transactions, you are required to show their effect on basic accounting equation.
•A business is proposed to be started by Mr. Ahmad
•He brought in a cash of 1,50,000 as his capital contribution for the business.
•He then purchased some furniture for 25,800.
•He then purchased some goods for cash for 21,000 from M/s Ali Brothers.
•He then purchased some goods valued 11,000 from Mr. Sajid on credit.
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Accounting equation is Assets Liabilities Cap...
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
