Question

3. Show the effect of following transactions on the accounting equation:
Rs.
(1) Started business with
Cash
Rs. 60,000
Machinery
Rs. 70,000
Furniture
Rs. 24,000
(2) Purchased a typewriter for office use
13,200
8,800
and for the personal use of proprietor
(3) Purchased goods for cash
33,000
(4) Goods costing Rs. 52,800 sold at a profit of +%. Half the goods were sold
on credit.
(5) Purchased goods to Shiv
22,000
(Ans. Total after final equation = Rs. 1,84,800)
= C + L
1,84,800 = 1,62,800 + 22,000
w
A​

Answer 1

1 CASH AC DR

GOODS AC DR

BUILDING AC DR

TO MANOJ CAPITAL AC

2. PURCHASE AC DR

TO CASH AC

3. CASH AC DR

TO SALES AC

4. RAHUL AC DR

TO DISCOUNT AC

TO CASH AC

5. SALARY AC DR

TO CASH AC

6. CASH AC DR

DISCOUNT AC DR

TO VARUN AC

7. RENT AC DR

TO CASH AC

8. PREPAID INSURANCE IS A ASSET OF BUSINESS

CASH AC DR

TO INSURANCE AC

9. CASH AC DR

TO COMMISSION AC

10. DRAWING AC DR

TO CASH AC

11. DEPRECIATION AC DR

TO CASH AC

12. CASH AC DR

TO CAPITAL AC

13 PURCHASE AC DR

TO RAKHI AC ....

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