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Make the accounting equation

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Reference no: EM132508448

Question 1: Prepare the accounting equation with the help of following transactions:

1. Started Business with cash -300,000 AED

2. Purchased goods for credit- 50,000 AED

3. Bought vehicle for cash -40,000 AED

4. Sold goods for credit -45,000 AED

5. Cash paid to creditors-50,000 AED

6. Received Interest- 25,000 AED

7. Withdrew money for personal use-8000 AED

Reference no: EM132508448

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