Question

4. Rohit has the following transactions. Prepare Accounting Equation:
Commenced business with cash 2,00,000
b. Purchased machinery on credit Rs. 25,000 from Mohit Traders
Paid to Mohit Traders creditors in full settlement Rs. 23,000
d. Repair charge on machinery Rs. 2,500
Paid rent Rs. 5,000
f. Cash purchases Rs 5000
C.​

Answer 1

Answer:

Cash a/c 200000

Explanation:

To capital a/c. 200000

Answer 2

Answer:

Explanation:

1- Cash A/C    dr  200000

To Capital A/C   200000

(being business started )

2- Machinery A/C dr       25000

  To Mohit traders A/C    25000

( being machinery purchased)

3- Mohit traders A/C dr  23000

    Discount A/C       dr  2000

   To Cash A/C                        25000

( Being Paid to Mohit Traders creditors in full settlement Rs. 23,000)

4- Repairs A/C   dr  2500

  To Cash A/C        2500

(being repair paid )

5- Rent A/C   dr  5000

   To Cash A/C   5000

( being rent paid )

6- Purchase A/c dr  5000

  To Cash A/c        5000

(being cash purchases done)

Rohit has the following transactions. Prepare Accounting Equation

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