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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

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9528748

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