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CBSE Class 11-commerce Answered

Arihant has a stock of goods worth Rs.15,000. He sells half the goods at a profit of 20%. What will be the effect on the accounting equation?
Asked by Topperlearning User | 13 Jun, 2016, 05:01: PM
answered-by-expert Expert Answer

 i. Stock will decrease by  Rs.7,500 (50% of Rs.15,000)

 ii. Cash will increase by  Rs.7,500 + Rs.1,500) i.e. 20% of Rs.7,500 is Rs.1,500

 iii. Capital will increase  by Rs. 1,500 (Profit)

Answered by | 13 Jun, 2016, 07:01: PM
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