[ISC] Q 5 Accounting Equation Solutions TS Grewal Class 11 (2023-24)

Are you looking for the solution of Question number 5 Accounting Equation TS Grewal class 11 ISC 2023-24?

Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet.

(i) Commenced business with cash ₹ 60,000

(ii) Paid rent in advance ₹ 500

(iii) Purchased goods for cash ₹ 30,000 and credit ₹ 20,000.

(iv) Sold goods for cash ₹ 30,000 costing ₹ 20,000.

(v) Paid salary ₹ 500 and salary outstanding being ₹ 100.

(vi) Bought motorcycle for personal use ₹ 5,000.

Solution:-