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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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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? 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 on the basis of the following started business with cash 10080 cash purchase rupees 40000 cash sales rupees 30000 paid rent rupees 10000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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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