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Prepare accounting equation on the basis of the following started business with cash 10080 cash purchase rupees 40000 cash sales rupees 30000 paid rent rupees 10000?
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Prepare accounting equation on the basis of the following started busi...



Accounting Equation:

Assets = Liabilities + Equity

Starting Business:
  • Cash: $10,080



Cash Purchase:
  • Assets Increase: $40,000 (Cash Purchase)



Cash Sales:
  • Assets Decrease: $30,000 (Cash Sales)



Paid Rent:
  • Assets Decrease: $10,000 (Rent Payment)



Final Accounting Equation:
  • Assets: $20,080 (Cash $10,080 + Cash Purchase $40,000 - Cash Sales $30,000 - Rent $10,000)
  • Liabilities: N/A (No mention of any liabilities)
  • Equity: N/A (No mention of equity investments)


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Prepare accounting equation on the basis of the following started business with cash 10080 cash purchase rupees 40000 cash sales rupees 30000 paid rent rupees 10000?
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