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1) Show the effect of the following transactions on the Accounting Equation:
(1) Started business with cash 50,000.
(i) Salaries paid 2,000.
(111) Wages Outstanding 200.
(iv) Interest due but not paid 100.
(v) Rent paid in advance 150.​

Respuesta :

Nonicorp1

Answer:

Assets=48,000

Liabilities=47,700

Capital=300

More explanations is as attached.

Explanation:

The accounting equation can be expressed as shown;

A=L+C

where;

A=assets

L=liabilities

C=capital

This is then written as;

Assets=liabilities+capital

More explanations is as attached.

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