Question

Prepare accounting equation:
1.Ram started business with cash Rs.25,000 and check of Rs.25,000 to open a bank account.
3.Purchased goods for cash Rs.4,000.
4.Withdraw cash for personal use from
bank Rs.700.
5.Recieved interest from bank Rs.100.
6.Paid to creditors Rs.400.
7.Purchased furniture for cash Rs.5,000.
8.Paid rent Rs.200.
9.Sold goods on credit (cost Rs.500)for Rs.800.
10.Paid paidly expenses Rs.2,000.



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Answer 1

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Answer 2

Answer:

Journalize the following transaction, create the necessary ledger accounts and post them to the respective voucher:

• Started Business with Cash ₹ 25,00,000

• Cash withdrawn from bank for office use ₹ 52,000

• Purchased Furniture from Times Ltd ₹ 25,000

• Received from Mr Basheer ₹5,000

• Paid to Mr Amar ₹ 49,959

• Sold goods to Mr Naran for ₹ 3,000