Home
Class 11
ACCOUNTS
What will be the effect of the followin...

What will be the effect of the following on the Accounting Equation :-
1. Purchased goods for Rs.20,000 from Mahesh on Credit.
2. Sold goods to Suresh costing Rs.8,000 for Rs. 10,000 in cash.
3. Paid Wages Rs.500.
4. Withdrew in cash for private use Rs. 2,000.
5 Paid to creditors Rs. 5,000.

Text Solution

Verified by Experts

1. + Stock + Creditors
2. + Cash - Stock + Capital
3. - Cash - Capital
4. - Cash - Capital
5. - Cash - Creditors]
Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING EQUATIONS

    DK GOEL|Exercise VERY SHORT ANSWER QUESTIONS|9 Videos

  • ACCOUNTING EQUATIONS

    DK GOEL|Exercise PRACTICAL QUESTIONS (Question Nos. 1 to 20 are strictly in the serial order of Illustrations)|22 Videos

  • ACCOUNTING EQUATIONS

    DK GOEL|Exercise ILLUSTRATION 20|1 Videos

  • ACCOUNTING FOR GOODS AND SERVICE TAX (GST)

    DK GOEL|Exercise Problems based on missing information|3 Videos