Question

Prepare Accounting Equation :


1
. Started business with Cash 1,20,000.

2
. Purchase Goods for Cash
10,000.

3
. Rent Received
5,000.

4
. Salary Outstanding
2,000.

5
. Prepaid Insurance
1,000.

6
. Received Interest
700.

7
. Sold Goods for Cash costing Rs. 5,000 7,000.

8.
Goods destroyed by Fire 500.​

Answer 1

Answer:

1cash 120000 to capital120000

2.purchases 10000 to cash10000

3rent5000to cash 5000

4.bank2000to salary2000

5prepaid ins.1000to bank1000

6

7. cash2000to sales2000

8