II. Answer all of the following Questions. Each Question carries six marks
19. Prepare accounting equation on the basis of the following:
(a) Kunal started business with cash Rs 2,50,000
(b) He purchased furniture for cash Rs 35,000
(c) He paid commission of Rs 2000
(d) He sold goods (costing Rs 20,000) for Rs 22,000
(e) He purchased goods on credit Rs 40,000
(f) He gave loan to Anil Rs 5000.
-1-
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Answer:
A) cash a/c dr ₹2,50,000
To capital a/c ₹2,50,000
B) Furniture a/c dr. ₹35,000
To cash a/c ₹35000
C) commission a/c dr. ₹2000
To cash a/c. ₹2000
D) cash a/c. dr. ₹22000
To sales a/c. ₹22000
E) purchase a/c dr. ₹40,000
To cash a/c ₹40,000
F) Anil a/c dr. ₹5000
To cash a/c. ₹5000
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Answer:
Explanation:
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