Question

3. Prove that the accounting equation is satisfied in all the following transactions of
Suresh and prepare balance sheet at the end
(i) Commenced business with cash ₹ 80,000 and bank balance ₹40,000.
(ii) Cash withdrawn from bank for office use ₹ 15,000.
(iii) Internet bill paid in cash 9,000.
(iv) Commission received by cheque ₹ 21,000.
(v) Cash withdrawn from bank for personal use * 11,000.
(vi) Additional capital introduced ₹24,000.
(vii) Charged interest on drawings ₹ 2,000.

​

Answer 1

bank dr 40000

cash dr 80000

capital cr 120000

cash dr 15000

bank cr 15000

internet charge dr 9000

cash cr 9000

bank dr 21000

commission cr 21000

drawing dr 11000

bank cr 11000

cash dr 24000

capital cr 24000

capital dr 2000

drawing interest cr 2000

í