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Prepare accounting equation on the basis...

Prepare accounting equation on the basis of the following :
(a) Harsha started business with cash 2,00,000m
(b) Purchased goods from Naman for cash 40,000
(c) Sold goods to Bhanu costing 10,000/- 12,000
(d) Bought furniture on credit 7,000

A

Harsha started business with cash 2,00,000

B

Purchased goods from Naman for cash 40000

C

Sold goods to Bhanu costing 10,000/-12000

D

Bought furniture on credit 7000

Text Solution

Verified by Experts

Asset = cash 1,60,000 + Goods 30,000 + Debtors 12,000 +Furniture7,000 = 2,09,000, Liabilities = Creditors 7,000 + Capital 2,02,000 = 2,09,000
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