Accounting equation, Financial Accounting

Prove that accounting equation is satisfied in all the following transactions of Mr.X

1.    Commenced business with cash - Rs.80,000                                   
2.    Purchased goods for cash - Rs.40,000 and on credit Rs.30,000
3.    Sold goods for cash - Rs.40,000 costing Rs.25,000
4.    Paid salary - Rs.2,000 and salary outstanding Rs.1,000
5.    Bought scooter for personal use for cash at Rs.20,000

Posted Date: 3/14/2013 9:05:44 AM | Location : United States

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