3. Prepare an Accounting Equation and Balance Sheet on the following basis:
| ₹ | ||
|---|---|---|
| (i) | Gurman started business with cash | 20,000 |
| (ii) | He purchased furniture for | 2,000 |
| (iii) | He paid rent of | 200 |
| (iv) | He purchased goods on credit | 3,000 |
| (v) | He sold goods (cost price ₹2,000) in cash for | 5,000 |
T.S.Grewal/2024 Edition/Practical Problems/Q-03
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.