Question

6. Prove that accounting equation is satisfied in all the following transaction of Gyaneswari bedi.
(i) Started business with cash Rs 10,000
Paid rent in advance Rs 300.
Purchased goods for cash Rs 5,000 and credit Rs 2,000
(iv) Sold goods for cash Rs 8,000 costing Rs 4,000
(iv) Paid salary Rs 450 and salary outstanding being Rs 100
(v) Bought motorcycle for personal use Rs 3,000.
llowing transaction of Jatin agencies.​

Answer 1

Answer:

1. cash a/c dr. 10,000

to capital a/c 10,000

2.rent in advance a/c dr. 300

to cash a/c 300

3. purchase a/c dr.7,000

to cash a/c 5,000

to creditor a/c 2,000

4. casha/c dr.8,000

to sales a/c 8,000

5. salary a/c dr.450

to cash a/c 450

6. Drawings a/c dr. 3,000

to cash a/c 3,000