7. Use Accounting Equation to show the effect of the following transactions of M/s Royal Traders:
₹ | ||
---|---|---|
(a) | Started Business with Cash | 1,20,000 |
(b) | Purchased goods for cash | 10,000 |
(c) | Rent received | 5,000 |
(d) | Salary outstanding | 2,000 |
(e) | Received interest | 700 |
(f) | Sold goods for cash (costing ₹5,000) | 7,000 |
(g) | Goods destroyed by fire | 500 |
(KVS 2020) (NCERT Q. 5)
D.K.Goel/2024 Edition/Practical Questions/Q-07
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company