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6) Transaction of mohan traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of accounting equation.
a. Business started with cash ₹1,00,000
b. cash purchase ₹50, 000
c. Cash sale of ₹60, 000
d. purchase furniture for cash ₹5, 000
e. paid rent ₹4, 000
f. bought from ratan ₹8, 000?
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6) Transaction of mohan traders are given below. Show the effects of t...
Assets, Liabilities, and Capital Effects of Transactions for Mohan Traders:
1. Business Started with Cash ₹1,00,000
- Assets: Cash increases by ₹1,00,000.
- Capital: Capital increases by ₹1,00,000.
2. Cash Purchase ₹50,000
- Assets: Cash decreases by ₹50,000.
- Liabilities: No effect on liabilities.
- Capital: No effect on capital.
3. Cash Sale of ₹60,000
- Assets: Cash increases by ₹60,000.
- Capital: No effect on capital.
4. Purchase Furniture for Cash ₹5,000
- Assets: Furniture increases by ₹5,000, Cash decreases by ₹5,000.
- Capital: No effect on capital.
5. Paid Rent ₹4,000
- Assets: Cash decreases by ₹4,000.
- Liabilities: No effect on liabilities.
- Capital: No effect on capital.
6. Bought from Ratan ₹8,000
- Assets: Increase in inventory by ₹8,000.
- Liabilities: No effect on liabilities.
- Capital: No effect on capital.
In summary, these transactions impact the assets, liabilities, and capital of Mohan Traders. Each transaction affects the accounting equation and must be recorded accurately to maintain the balance in the financial statements.
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6) Transaction of mohan traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of accounting equation. a. Business started with cash ₹1,00,000b. cash purchase ₹50, 000c. Cash sale of ₹60, 000d. purchase furniture for cash ₹5, 000e. paid rent ₹4, 000f. bought from ratan ₹8, 000?
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6) Transaction of mohan traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of accounting equation. a. Business started with cash ₹1,00,000b. cash purchase ₹50, 000c. Cash sale of ₹60, 000d. purchase furniture for cash ₹5, 000e. paid rent ₹4, 000f. bought from ratan ₹8, 000? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 6) Transaction of mohan traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of accounting equation. a. Business started with cash ₹1,00,000b. cash purchase ₹50, 000c. Cash sale of ₹60, 000d. purchase furniture for cash ₹5, 000e. paid rent ₹4, 000f. bought from ratan ₹8, 000? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 6) Transaction of mohan traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of accounting equation. a. Business started with cash ₹1,00,000b. cash purchase ₹50, 000c. Cash sale of ₹60, 000d. purchase furniture for cash ₹5, 000e. paid rent ₹4, 000f. bought from ratan ₹8, 000?.
Solutions for 6) Transaction of mohan traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of accounting equation. a. Business started with cash ₹1,00,000b. cash purchase ₹50, 000c. Cash sale of ₹60, 000d. purchase furniture for cash ₹5, 000e. paid rent ₹4, 000f. bought from ratan ₹8, 000? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
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