# Prepare Accounting Equation

INSTRUCTIONS TO CANDIDATES

Prepare Accounting Equation from the following:

1.Nitin started business with cash ₹75,000; goods ₹30,000; Machinery ₹50,000 and Furniture ₹25,000. 2. 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received In cash. 3.Depreciation on Machinery provided at 10%. 4. Cash withdrawn for personal use ₹10,000. 5. Interest on drawing charged @ 5%. 6. Goods sold to Jacob for ₹5,000 and received a Bill Receivable for the same amount for three Months. 7 . Received ₹5,000 from Jacob against the Bill Receivable on its maturity.

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