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