12. Raghunath had the following transactions in an accounting year:
| ₹ | ||
|---|---|---|
| (i) | Commenced business with cash | 50,000 |
| (ii) | Paid into bank | 10,000 |
| (iii) | Purchased goods for cash ₹20,000 and credit | 30,000 |
| (iv) | Sold goods for cash costing ₹30,000 for | 40,000 |
| (v) | Rent paid | 500 |
| (vi) | Rent outstanding | 100 |
| (vii) | Bought furniture on credit | 5,000 |
| (viii) | Bought refrigerator for personal use | 5,000 |
| (ix) | Purchased motorcycle for cash | 20,000 |
Create an Accounting Equation to show the effect of the above and also show his Balance Sheet
T.S.Grewal/2024 Edition/Practical Problems/Q-12
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.