Question

3. Mohit has the following transactions, prepare accounting equation:
(a) Business started with cash
Rs. 1,75,000
(b) Purchased goods from Rohit
Rs. 50,000
(c) Sales goods on credit to Manish (Costing Rs. 17,500) Rs. 20,000
(d) Purchased furniture for office use
Rs. 10,000
(e) Cash paid to Rohit in full settlement
Rs. 48,500
(f) Cash received from Manish
Rs. 20,000
(g) Rent paid
Rs. 1,000
(h) Cash withdrew for personal use
Rs. 3,000
ni Canh Ra 132.500 + Goods Rs. 32,500 + Furniture Rs. 10 000
CA​

Answer 1

Answer:

1. a cash A/C.......Dr

to capital A/C

(being started business) amount 1,75,000

2. b cash A/C....Dr

to sale A/C

(being purchased goods from rohit) amount 50,000

3.c Manish A/C.......Dr

to sale A/C

(being sale goods to Manish)

4.d furniture A/C.....Dr

to cash A/C

(being purchased furniture)

5.e rohit A/C.......Dr

to cash A/C

(being cash paid)

6.f cash A/C..........Dr

to Manish A/C

(being cash received) amount 20,000

7.g rent A/C........Dr

to cash A/C

(being cash paid) amount 1,000

8.h drawing A/C.....Dr

to cash A/C

(being cash withdrawal )amount 3,000