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Prepare accounting equation for the following transaction of Krishna. The following balances appeared in the books of Krishna on first four 2023 cash in hand, 5000 furniture, 10,000 stock 5000 diameter 8000 outstanding salaries 2000 Garima creditor, 3000 paid 5000 on accounting depreciation furniture by 1000 paid insurance, premium advance 1000 sold 1/5 goods for 1200, answer the question?
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Prepare accounting equation for the following transaction of Krishna. ...
Accounting Equation for Krishna:

Initial Balances:
- Cash in hand: $5,000
- Furniture: $10,000
- Stock: $5,000
- Debtors: $8,000
- Outstanding salaries: $2,000
- Garima creditor: $2,000

Transactions:
1. Paid $5,000 for outstanding salaries
2. Depreciation on furniture: $1,000
3. Paid insurance premium advance: $1,000
4. Sold 1/5 goods for $1,200

Explanation:
- Cash in hand: Increases by $5,000 and decreases by $5,000 for outstanding salaries payment.
- Furniture: Decreases by $1,000 due to depreciation.
- Outstanding salaries: Decreases by $5,000 after payment.
- Insurance premium advance: Decreases cash in hand by $1,000.
- Stock: Decreases by 1/5 of $5,000 due to sale of goods.
- Debtors: Not affected by the given transactions.
- Garima creditor: Not affected by the given transactions.
By considering all the transactions and adjusting the initial balances, the updated accounting equation for Krishna can be calculated.
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Prepare accounting equation for the following transaction of Krishna. ...
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Prepare accounting equation for the following transaction of Krishna. The following balances appeared in the books of Krishna on first four 2023 cash in hand, 5000 furniture, 10,000 stock 5000 diameter 8000 outstanding salaries 2000 Garima creditor, 3000 paid 5000 on accounting depreciation furniture by 1000 paid insurance, premium advance 1000 sold 1/5 goods for 1200, answer the question?
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Prepare accounting equation for the following transaction of Krishna. The following balances appeared in the books of Krishna on first four 2023 cash in hand, 5000 furniture, 10,000 stock 5000 diameter 8000 outstanding salaries 2000 Garima creditor, 3000 paid 5000 on accounting depreciation furniture by 1000 paid insurance, premium advance 1000 sold 1/5 goods for 1200, answer the question? 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 for the following transaction of Krishna. The following balances appeared in the books of Krishna on first four 2023 cash in hand, 5000 furniture, 10,000 stock 5000 diameter 8000 outstanding salaries 2000 Garima creditor, 3000 paid 5000 on accounting depreciation furniture by 1000 paid insurance, premium advance 1000 sold 1/5 goods for 1200, answer the question? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare accounting equation for the following transaction of Krishna. The following balances appeared in the books of Krishna on first four 2023 cash in hand, 5000 furniture, 10,000 stock 5000 diameter 8000 outstanding salaries 2000 Garima creditor, 3000 paid 5000 on accounting depreciation furniture by 1000 paid insurance, premium advance 1000 sold 1/5 goods for 1200, answer the question?.
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