Question

Give the accounting equation for the following transactions. 1 Rahul started business with cash Rs. 50,000. 2 Purchased goods on credit from Samruddhi Rs. '10,000 3 Paid for salaries Rs. 5,000. 4 Goods sold for cash Rs. 2,000. 5 Received lnterest Rs. 1,000.​

Answer 1

Answer:

This is answer

Explanation:

1. Cash A/C Dr

To Capital A/C

(Being started business with cash)

2.Purchased or Goods A/C. Dr

To Samruddhi A/C

(Being purchased goods from Samruddhi on credit)

3.CashA/C. Dr

To Salaries A/C

(Being paid for salaries)

4.Cash A/C. Dr

To Goods A/C

(Being Sold Goods for Cash)

5.Interset A/C. Dr

To Cash A/C

(Being Received Interest ).