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Show Accounting equation on the basis of following transactions: i) X started a business with cash Rs 18,000 ii) Purchased equipment for cash Rs 14,800
Show Accounting equation on the basis of following transactions:
i) X started a business with cash Rs 18,000
ii) Purchased equipment for cash Rs 14,800
iii) Purchased good on credit Rs 5,300
iv) Paid Rs 600 to creditors
v) Sold goods for cash Rs 4,000(cost price Rs 2,400)
vi) Business expenses Rs 1,400
vii) Good worth Rs 800 were taken for personal use
viii) Depreciation on the equipment is Rs 400
ix) Purchased goods for cash Rs 2,000
x) Rent outstanding is Rs 400
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