The Total solution for NCERT class 6-12
Prepareaccounting equation from the following:
Rs
(a)
Kunal started business with cash
2,50,000
(b)
He purchased furniture for cash
35,000
(c)
He paid commission
2,000
(d)
He purchases goods on credit
40,000
(e)
He sold goods (costing Rs 20,000) for cash
26,000
S.No.
Explanation
Assets
Liabilities
+
Capital
Cash
Furniture
Stock
=
Creditors
Increase in cash
Increase in capital
NIL
Increase in furniture
Decrease in cash
(35,000)
2,15,000
Decrease in capital (Expense)
(2,000)
2,13,000
2,48,000
Increase in stock
Increase in creditors
Decrease in stock
(20,000)
Increase in capital (Profit)
6,000
2,39,000
20,000
2,54,000