Question

4. What will be the effect of the following on the accounting equation?

(a) Sunil started business with ` 1,40,000 cash and goods worth ` 60,000

(b) Purchased furniture worth ` 20,000 by cash

(c) Depreciation on furniture ` 800

(d) Deposited into bank ` 40,000

(e) Paid electricity charges through net banking ` 500

(f) Sold goods to Ravi costing ` 10,000 for ` 15,000

(g) Goods returned by Ravi ` 5,000​

Answer 1

A).cash a/c dr.140000

goods a/c dr.60000

to business purchase a/c 20000

b) furniture a/c dr.20000

to cash a/c 20000

c) depreciation a/c dr.800

to p&L a/c. 800

d)bank a/c dr.40000

to cash a/c 40000

e) electricity charges A/c dr.500

to p&l a/c 500

f)Ravi a/c dr.15000

to p&l a/c 5000

to sales a/c 10000

g)sales return a/c dr.5000.

to sales a/c 5000

Answer 2

Answer:

the answer is Rs.203500