Question

Journalise the following transactions-

(i) Ramesh introduced capital by cash '55,000.

(ii) Purchased goods from Sunil for ' 35,000.

(iii) Sold goods to shyam, for '22,000 ,60% on credit & balance in cash.

(iv) Ramesh took goods worth '5,000 for personal use.

(v) Goods of '1,500 given as charity.

(vi) Rent paid '3,000.

(vii) salary outstanding '2,000.

(viii) Cash deposited in to bank '5,000.​

Answer 1

Answer:

Show the Accounting Equation for the following transactions: ... Purchased goods from Shyam ... (ii) Purchased goods for Cash Rs 5,000 and on credit Rs 2,000 ... (ii) Sold goods worth Rs 10,000 for cash Rs 12,000.