Question

From the following particulars of Mr. Atif, prepare the accounting equation:

a) Started business with cash for Rs. 4,50,000 and Building Rs. 20,00,000.

b) Paid into bank Rs. 2,00,000.

c) Purchase furniture for cash Rs. 40,000.
d) Purchased goods for cash Rs. 2,00,000.

e) Sold goods (costing Rs. 3,000) for cash Rs. 3,400.

f) Expenses outstanding worth Rs. 2,000.

g) Received securities deposit from tenants Rs. 5,500.

h) Sold goods to Mohan (costing Rs 20,000) for Rs. 10,000.

i) Paid telephone expenses Rs 19,100​

Answer 1

Answer:

i.capital a/c dr. 450000

building a/c dr. 2000000

to cash a /c. 2450000

ii.bank a/c dr. 200000

to cash a/c. 200000

III . furniture a/c dr. 40000

to cash a/c 40000

iv. purchase a/c dr. 200000

to cash a/c 200000

v.cash a/c dr.3400

to sales a/c 3400

vi. outstanding expenses a/c dr. 2000

to expenses a/c 2000

vii. securities deposit a/c dr. 5500

to tenants 5500

viii.mohan a/c dr. 10000

to sales a/c 10000

ix. telephone expenses a/c dr. 19100

to cash a/c 19100

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