Lesson 6:: Accounting Equation-Part 2

Accounting Equation-Part 2
This video is about how to solve accounting equation question with example as given here. Listen the video keeping in front this question opened in Show more option
1. Rohit Started the business with cash 500000
2. Opened bank account with amount 480000
3. Bought Furniture for Rs. 60000 and issued a cheque for same
4. bought plant from Ramjee Lal for business for Rs. 125000 and advance of Rs. 10000 in cash is given
5. Goods purchased from Sumit traders Rs 55000
6. Goods Costing Rs. 25000 sold to Rajani Enterprise for Rs. 35000
7. paid monthly store rent 2500 in cash
8. paid salary to employees 5000 in cash
9. Received a cheque in full settlement from Rajani Enterprise and deposited in bank
Caption: The accounting equation is a fundamental concept in accounting that represents the relationship between a company's assets, liabilities, and equity. It must always remain in balance and any transaction that affects one side of the equation must also affect the other side to maintain balance. By understanding and applying the accounting equation, accountants and financial professionals can accurately record financial transactions and provide stakeholders with an accurate picture of a company's financial position.
Keywords: Accounting, equation, balance sheet, assets, liabilities, equity, financial transactions, balance, Double-entry accounting, debits, credits, income statement, retained earnings, contributed capital, owner's equity, financial position, balance sheet equation.
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Sir please give more examples of accounting equation and juonral or leger account so they help us to clear these concepts

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Sir!!! aik doubt aur hai.. Aapne aik video mein jismien ki aap Debit and Credit rules samjha rahay thay, usmein kaha ki Electricity Bills hamari liability hai joki hamain pay karni hai. Bilkul theek.... it doesn make sense lekin Electricity Bills hamare Expenses bhi tau hosaktay hain. Usko as an expense treat nahin karsaktay kia?

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