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Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800?
Most Upvoted Answer
Prepare accounting equation from following information. I) business st...
Accounting Equation Preparation:
Assets:
- Cash: Rs. 6,60,000
- Bank balance: Rs. 95,000
- Stock: Rs. 12,800
Total Assets = Rs. 6,60,000 + Rs. 95,000 + Rs. 12,800 = Rs. 7,67,800
Liabilities:
- No information given about liabilities in the question.
Owner's Equity:
- Owner's equity represents the owner's interest in the business.
- Initially, the owner invested cash of Rs. 6,60,000 into the business.
Total Owner's Equity = Rs. 6,60,000
Accounting Equation:
- The accounting equation is Assets = Liabilities + Owner's Equity.
- As liabilities information is not provided, we will only consider assets and owner's equity in this case.
Assets = Liabilities + Owner's Equity
Assets = Owner's Equity
Rs. 7,67,800 = Rs. 6,60,000
Conclusion:
- The accounting equation for the business, based on the information provided, is as follows:
- Assets: Rs. 7,67,800
- Owner's Equity: Rs. 6,60,000
- This shows that the total assets of the business amount to Rs. 7,67,800, which is equal to the owner's equity of Rs. 6,60,000.
Assets:
- Cash: Rs. 6,60,000
- Bank balance: Rs. 95,000
- Stock: Rs. 12,800
Total Assets = Rs. 6,60,000 + Rs. 95,000 + Rs. 12,800 = Rs. 7,67,800
Liabilities:
- No information given about liabilities in the question.
Owner's Equity:
- Owner's equity represents the owner's interest in the business.
- Initially, the owner invested cash of Rs. 6,60,000 into the business.
Total Owner's Equity = Rs. 6,60,000
Accounting Equation:
- The accounting equation is Assets = Liabilities + Owner's Equity.
- As liabilities information is not provided, we will only consider assets and owner's equity in this case.
Assets = Liabilities + Owner's Equity
Assets = Owner's Equity
Rs. 7,67,800 = Rs. 6,60,000
Conclusion:
- The accounting equation for the business, based on the information provided, is as follows:
- Assets: Rs. 7,67,800
- Owner's Equity: Rs. 6,60,000
- This shows that the total assets of the business amount to Rs. 7,67,800, which is equal to the owner's equity of Rs. 6,60,000.
Community Answer
Prepare accounting equation from following information. I) business st...
Assets= cash 660000+bank95000+stock 12800=767800
capital= 767800
capital= 767800
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Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800?
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Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800?.
Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare accounting equation from following information. I) business started with cash 6,60,000. Bank balance 95,000 & stock Rs,12800?.
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