Question

5
Q.2 Show the accounting equations on the basis of the following transact
a) Parmanand & Co started business with Cash 50,000
b) Purchase goods on credit 20,000
c) Sold goods on credit costing Rs.6,000 for 9,000
d) Withdrew cash for personal usel,000
e) Purchased goods on cash 10,000
f) Paid for office expenses 1.500
g) Sold goods for cash (cost price Rs.10,000) 8,000
b) Received cash form debtors5,000
1) Paid cash to creditors 15,000
j) purchased furniture 6,000

Answer 1

Answer:

a. cash a/c_ _ Dr. 50000

To capital a/c 50000

b. Purchases a/c_ _ Dr. 20000

To X a/c 20000 (supposing that goods purchase on credit to X )

c. X a/c_ _ Dr. 9000

To sales a/c 9000

d. Drawings a/c_ _ Dr. 1000

To cash a/c 1000

e. Purchases a/c_ _ Dr. 10000

To cash a/c 10000

f. Expenses a/c_ _ Dr. 1500

To cash a/c 1500

g. Cash a/c_ _ Dr. 8000

To sales a/c 8000

Explanation:

I only know this....

Sorry dear....