Question

12.prove that accounting equation is followed after each

transaction

a)Ajay commenced business with capital ₹ 150000

b)Purchased goods from RVK Ltd for cash ₹ 10000

c)Sold good on credit ₹1000

d)Salary paid ₹ 500​

Answer 1

Answer:

a) Capital A/C Dr

To Ajay A/C

b) Purchase A/C Dr

To RVK Ltd A/C

c) Goods A/C Dr

To Sales A/C Dr

d) Salary A/C Dr

To Cash A/C

Explanation:

A/C means Account