Question

Onkar Nath starts a real estate agency business with a cash investment of Rs.35,000.
The following business transactions have been recorded:
(i) Paid three months advance rent for office accommodation Rs.2,100
(ii) Bought office car Rs.21,000
(iii) Purchased office furniture Rs.7,000
(iv) Bought office typewriter from Standard Supply Co. Rs.3,000
(v) Sold extra office Furniture at Cost to Amar for Rs.1,000, Amar paid Rs.600 in cash and accepted a bill at three months for the balance.
(vi) Amar paid the amount of the bill at maturity and Onkar Nath paid half the amount he owed to Standard Supply Co.
(vii) Collected Rs.6,000 as commission.
(viii) Paid telephone bill amounting to Rs.150.
Use the following heading in a tabular form and work out the effect of the foregoing transactions on the equity of Onkar Nath through the accounting equation:
Cash + B/R + Prepaid rent + Office car + Office equipment = Standard Supply Co. + Owner‟s equity (Capital)

Answer 1

Answer:

:

(i) Paid three months advance rent for office accommodation Rs.2,100

(ii) Bought office car Rs.21,000

(iii) Purchased office furniture Rs.7,000

(iv) Bought office typewriter from Standard

Answer 2

Answer:

plss give me a answer for this transaction