Question

Activity: 1
From the following transactions find out
1) Two Aspects 2) Two Accounts
3) Classify the Accounts and Fill the following Tables
1) Started business with Cash 50,000.
2) Purchased Machinery on credit from Avinash 20,000.
3) Purchased goods * 5,000 from Rahul on cash.
4) Sold goods to Anikett 6,000 on credit.
5) Paid Salary * 1,000.
6) Sold old Tables for 3,000.
Solution:​

Answer 1

Answer:

Q1) a) cash comes in

b) proprietor is the giver

2) a) purchased is machinery comes in

b) Avinash in giver

3) a) purchased is an expense

b) cash goes out