Question

Prepare acconting equation on the basis of the following
harsha starts business with cash 200000
purchase goods fromnaman for 4000
sold goods to bhanu costing Rs 10000 Rs 12000
bought furniture on credit Rs 7000

Answer 1

Answer:

Cash A/C..........Dr

To harsha A/C

(being started business) 2,00,000

cash A/C.......Dr

to fromnaman A/C

(being purchased goods) 4000

bhanu A/C .......Dr

to sale a/C

(being goods sale to bhanu) 10,000

furniture A/C......Dr

To cash A/C

(being furniture purchased with cash) 7000

Answer 2

Cash dr
Capital cr
(Business started with cash )

Purchases ac dr
Naman ac cr
Goods purchased from naman

Bhanu dr 22000
Sales ac cr 22000
Goods sold to bhnau

Furniture ac dr 7000
Creditor ac cr 7000
(Furniture bought on credit)

Here creditor not mention
From whom furniture bought on credit
That’s why I wrote Creditor
Hope it helps you !!