Financial Accounting & Analysis | Question and answer
Q1. Analyse the following transactions for Surprise Ltd. using the concept of AccountingEquation comprising of Assets, Liabilities and Equity. (10 Marks) SOLUTION: Overall impact: Assets: Cash -₹ 2,50,000, Equipment +₹ 2,00,000, Furniture +₹ 50,000, Raw materials +₹ 25,000 Liabilities: IndiMart +₹ 50,000 Equity: +₹ 80,000 (₹ 5,00,000 + ₹ 75,000 – ₹ 2,50,000) Please note …
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