Use accounting equation to show the effect of the following transactions of M s Royal Traders n...........

Accountancy (11th) Chapter-3 Recording of treatment-1

Use accounting equation to show the effect of the following transactions of M/s Royal Traders: (5 marks)

		Rs
(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)	Prepaid Insurance	1,000
(f)	Received interest	700
(g)	Sold goods for cash (costing Rs 5,000)	7,000
(h)	Goods destroyed by fire	500

Download Model Answer

Submit Error