Accounting Equation
 
Mohit has the following transaction prepare accounting equation :
  1. Business started with cash Rs. 1,75,000
  2. purhcased goods from Rohit Rs. 50,000
  3. Sales goods on credit to Manish (costing Rs. 17,500) Rs. 20,000
  4. Purchased furniture for office use Rs. 10,000
  5. Cash paid to Rohit in full settlement Rs. 48,500
  6. Cash received form Manish Rs. 20,000
  7. Rent paid Rs. 1,000
  8. Cash wuthdrew for personal use Rs. 3,000
Solution :-