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.:send full photo of full method ​

Answer 1

Answer:

1. name: cash

recipet entry

capital 25000

under: capital account

2.name : cash

recipet entry

bank account. 25000

under: bank account

3. name : cash

purchase entry

goods. 4000

under: indirect expenses

4.name : cash

contra entry