Question

16. Prepare Accounting Equation as
per the details given below: (i) A
started business with cash Rs. 60000
(ii) Drawing made @ Rs. 800 (iii)
Interest Received @ Rs. 150 (iv) Paid
Rent @ Rs. 400 (v) Salary Paid @ Rs.
300​

Answer 1

Answer:

Date/Serial Explanation Debit Rs. Credit Rs.

1. Cash

(60000+150-800-400-300) 58,650

2. Capital 60000

3. Drawing a/c . 800

4. Interest a/c 150

5. Rent a/c 400

6.. . Salary a/c 300

________ ________

. . . 60150 60150

Explanation:

1.

8Cash a/c....... Debit Rs 60,000

Capital a/c...... credit Rs 60,000

2.

Drawing a/c.... Debit Rs 800

Cash a/c......... Credit Rs 800

3.

Cash a/c...... Debit Rs 150

Interest a/c..... Credit Rs 150

4.

Rent a/c...... Debit Rs 400

Cash a/c...... Credit Rs 400

5.

Salary a/c..... Debit Rs 300

Cash a/c...... Credit Rs 300