(a) Started business with cash Rs. , , (b) Rent received Rs. , (c) Invested in shares Rs. , (d) Received dividend Rs.
, (e) Purchase goods on credit from Ragani Rs. , (f) Paid cash for house hold Expenses Rs. , (g) Sold goods for cash (costing Rs. , ) Rs.
, (h) Cash paid to Ragani Rs. , Deposited into bank Rs. , ( Ans: Assets = Cash Rs. , + Shares Rs.
, + Goods Rs. , + Bank Rs. , = Rs. , , ; Liabilities = Capital Rs.
, , ) . Show the effect of following transaction on the accounting equation: (a) Manoj started business with Rs. , , Goods Rs. , , (iii) Building Rs.
, , (b) He purchased goods for cash Rs. , (c) He sold goods(costing Rs. , ) Rs. , (d) He purchased goods from Rahul Rs.
, (e) He sold goods to Varun (Costing Rs. , ) Rs. , (f) He paid cash to Rahul in full settlement Rs. , (g) Salary paid by him Rs.
, (h) Received cash from Varun in full settlement Rs. , (i) Rent outstanding Rs. , (j) Prepaid Insurance Rs. , (k) Commission received by him Rs.
, (l) Amount withdrawn by him for personal use Rs. , (m) Depreciation charge on building Rs. , (n) Fresh capital invested Rs. , (o) Purchased goods from Rakhi Rs.
, ( Ans: Assets = Cash Rs. , , + Goods Rs. , , +Building Rs. , , + Prepaid Insurouce Rs.
, = Rs. , , ; Liabilities = Outstanding Rent Rs. , + Creditor Rs. , + Capital Rs.
, , = Rs. , , ) . Transactions of M/s Vipin Traders are given below. Show the effects on Assets, Liabilities and Capital with the help of accounting Equation.
(a) Business started with cash Rs. , , (b) Purchased goods for cash Rs. , (c) Purchase furniture from R.K. Furniture Rs.
, (d) Sold goods to Parul Traders (Costing Rs. , vide Rs. , bill no. ) (e) Paid cartage Rs.
(f) Cash Paid to R.K. furniture in full settlement Rs. , (g) Cash sales (costing Rs. , ) Rs.
, (h) Rent received Rs. ,