3 Give the accounting equation for the following transactions:
1.
Mr. Vaibhav started business with Cash 1,00,000.
2. Purchased goods on credit from Rita Stores 9,000.
3. Purchase Laptop for office use 10,000.
4. Sold goods to Rina on credit 12,000.
5. Received Interest 2,500
6. Paid Telephone bill * 1,300.
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Answer:
1.cash 100,000
capital 100,000
2.purchases 9,000
accounts payable 9,000
3.office supplies 10,000
cash 10,000
4.accounts receivable 12,000
sales 12,000
5.cash 2,500
accounts receivable 2,500
6.utlity expense 1,300
cash 1,300
Explanation:
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