Prove that Accounting Equation is satisfied in all following transactions of Sameer G
Channel: Doubtnut
Date: 2020-04-26

Prove that Accounting Equation is satisfied in all following transactions of Sameer Goel :  (i) Started business with Cash Rs. 1,00,000.  (ii) Paid rent in advance Rs.3,000.  (iii) Purchased goods for cash Rs.50,000 and Credit Rs. 20,000.  (iv) Sold goods for Cash Rs. 80,000 costing Rs. 40,000.  (v) Paid salary in cash in cash Rs. 4,500 and salary outstanding Rs. 1,000.  (vi) Bought motor cycle for personal use Rs. 30,000.