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Vijay by radhika is a document available to read on EtoBox.

Here are the accounting equations for the transactions: 1. Vijay started business with cash ₹20,000 Assets = Cash ₹20,000 2. He purchased goods on credit of ₹8,000 Assets = Cash ₹20,000 Liabilities = Accounts Payable ₹8,000 3. He sold goods for cash ₹3,000 Assets = Cash ₹20,000 + ₹3,000 = ₹23,000 Liabilities = Accounts Payable ₹8,000 4. Purchased furniture for cash ₹2,000 Assets = Cash

Author

radhika

Language

EN