Question

Pl solve the following accounting equation problem: a)Raj started business with cash Rs, 80,000 and goods Rs.20,000/- b) Withdrew goods Rs.2000/- and cash Rs,1000/- for personal use c) paid salary Rs.1000/- and o/s salary Rs. 1000/- d) cash lost by theft Rs.1000/- and goods lost by fire Rs. 4000/- e) paid office expenses Rs. 500 and received commission Rs. 500

Answer 1

Cash a/c. Dr. 80000. -
Purchase a/c. Dr. 20000. -
To capital a/c. -. 100000

B
Drawings a/c. Dr. 3000. -
To cash a/c. -. 1000
To purchase a/c. -. 2000

C
Salary a/c. Dr. 1000. -
O/s a/c. Dr. 1000. -
To cash a/c. -. 2000

D
Loss by theft a/c. Dr. 1000. -
To cash a/c. -. 1000
Loss by fire a/c. Dr. 4000. -
To purchase a/c. -. 4000

E
Office expenses a/c Dr. 500. -
To cash a/c. -. 500
Cash a/c. Dr. 500. -
To commission rec a/c. -. 500