7. Show the effect of the following transactions on Assets, Liabilities and Capital through accounting equation:
(a) | Started business with cash | ₹1,20,000 |
---|---|---|
(b) | Rent received | ₹10,000 |
(c) | Invested in shares | ₹50,000 |
(d) | Received dividend | ₹5,000 |
(e) | Purchase goods on credit from Ragani | ₹35,000 |
(f) | Paid cash for house hold Expenses | ₹7,000 |
(g) | Sold goods for cash (costing ₹10,000) | ₹14,000 |
(h) | Cash paid to Ragani | ₹35,000 |
(i) | Deposited into bank | ₹20,000 |
NCERT/Numerical Questions/Q-07