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

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