Question

Activity : 04
Show the accounting equation for the following transactions and fill the table.
1) Mr. Manohar started business with 75,000.
2) Purchase Stationery * 1,000
3) Bought goods 6,000 from Mohan.
4) Sold goods to Radha 10,000.
5) Purchase Mobile For business * 2,000.
6). Sold goods costing * 20,000 at a profit of * 5,000.
7) Paid salary *2,500.​

Answer 1

Answer:

1.cash a/c. dr 75000

to capital a/c 75000

2.purchasesa/c. dr 1000

to cash a/c. 1000

(by stationary purchased)

3.purchases a/c dr 6000

to Mohan a/c. 6000

4.Radha a/c. dr. 10000

to sales a/c. 10000

5.purchases a/c dr 2000

to cash a/c (or capital a/c) 2000

(by mobile purchased for business)

6.cash a/c. dr. 20000

to sales a/c. 15000

to profit a/c. 5000

7.salary a/c. dr. 2500

to cash a/c. 2500

Answer 2

Answer:

1) Mr. Manohar started business with ` 75,000.

2) Purchase Stationery ` 1,000

3) Bought goods ` 6,000 from Mohan.

4) Sold goods to Radha ` 10,000.

5) Purchase Mobile For business ` 2,000.

6) Sold goods costing ` 20,000 at a profit of ` 5,000.

7) Paid salary ` 2,500.