Question

Part - 1) Prepare an Accounting Equation from the
following transaction:
a) Started business with cash Rs.1,10000.
b) Purchased goods for cash Rs.30000
c) Sold goods costing Rs.10000 for Rs. 15000
d) Borrowed cash from Bank Rs 30000.
e) Purchased Machinery Rs. 15000.
f) Repaid bank loan Rs.10000.
(7)​

Answer 1

Answer:

1.a cash a/c dr 1,10000

To capital a/c 1,10000

b.purchase a/c dr 30000

To cash a/c 30000