Question

prepare accounting equation....
1)Rohit started business with cash * 50,000.
2)Bought goods on credit from Manoj * 6,000.
3)Cash purchases 5,000.
4)Paid wages 3,000 to Casual labour.
5)Sold goods to Santosh 7,000 on credit.
6)Received Commission 1,000 from Vaishali.​

Answer 1

Answer:1 Dr cash and Cr Rohit with 50,000

             2 Dr purchase and Cr Manoj with 6,00

            3 Dr purchase and CR cash with 5,00

           4, Dr  Wages and Cr  cash with 3,000

           5 Dr Santosh and Cr cash with 7,000

           6 Dr commission and Cr Vaishali with 1,000

Explanation