[CBSE] Q 9 Accounting Equation TS Grewal Class 11 (2023-24)

Solution of Question number 9 of Accounting Equation chapter TS Grewal class 11 CBSE Board 2023-24?

Use accounting equation to show the effect of the following transactions of M/s Royal Traders:

(a) Started business with cash ₹ 1,20,000.

(b) Purchased goods for cash ₹ 10,000.

(c) Rent received ₹ 5,000.

(d) Salary Outstanding ₹ 2,000.

(e) Sold goods for cash (Costing ₹ 5,000) ₹ 7,000.

(f) Gooods destroyed by fire ₹ 500.

[Assets: Cash ₹ 1,22,000 + Stock ₹ 4,500 = Liabilities: Outstanding Expenses ₹ 2,000 + Capital: ₹ 1,24,500.]

Solution:-

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