Question

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-COUNTING EQUATIONS
PRACTICAL QUESTIONS
(Ouestion Nos. 1 to 20 are strictly in the serial order of Illustrations)
Q. 1. Prepare Accounting Equation from the following: -
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6.25
1. Sandeep started business with Cash
2. Purchased furniture for cash
3. Purchased goods for cash
4. Purchased goods on credit
5. Paid for rent
6. Goods costing 40,000 sold at a profit of 20% for cash
1,00,000
5.000
20.000
36,000
700​

Answer 1

Answer:

1.capital a/c dr. 100k

to cash a/c 100k

2.

furniture a/c dr. 5k

to cash a/c 5k

3.

purchase a/c dr. 20k

to cash a/c 20k

4.

purchase ac dr. 36k

to creditors a/c 36k

5.

rent ac dr. 700

to cash ac 700

6.cash ac dr. 48000

to sales ac 48k

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