Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q#3. show the effect of the following transactions

Q#3. Show the effect of the following transactions in the accounting equation: (1) Mr. Jameel...

80.2K

Verified Solution

Question

Accounting

image

Q#3. Show the effect of the following transactions in the accounting equation: (1) Mr. Jameel commenced business with cash Rs. 135,000 and Building 100,000. (ii) He purchased goods worth Rs. 56,000 for cash, subject to a trade discount of 10% (i) He sold goods to Laeeq for Rs. 41.000 costing Rs. 38,000 on credit busis. (iv) He paid salaries Rs. 4,000. (v) Depreciation on Building Rs. 7,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students