Question

create a accounting equation on the basis of the following transactions :
(1)Started business with cash 8,00,000 and goods 2,00,000.
(2)Cash deposited in Bank 5,00,000.
(3)Purchased Machinery from Arjun 10,000.
(4)Purchased goods for cash 80,000.
(5)Paid Cash to Arjun 10,000.
(6)Salary Paid By Check 1,00,000.

Answer 1

1.capital AC Dr
to cash AC CR
to goods AC CR
2.bank AC Dr
to cash ac
3.machinery AC Dr
to Arjun AC
4.goods AC Dr
to cash AC
5.arjun AC Dr
to cash AC
6.salary AC Dr
to bank ac