Show the accounting equation for the following transactions and fill the table. 1) Mr. Manohar started business with ? 75,000. 2) Purchase Stationery 1,000 3) Bought goods ? 6,000 from Mohan. 4) Sold goods to Radha ? 10,000. 5) Purchase Mobile For business 2,000. 6) Sold goods costing 7 20,000 at a profit of 7 5,000. 7) Paid salary ? 2,500. 37

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is