Question

prepare accounting equation for the following Kunal started business with cash 250000 he purchased furniture for cash 35000 he paid commission 2003 purchase goods for cash 40000 he sold goods costing 20000 for cash

Answer 1

Answer:

Q. kunal started business with cash ₹. 2,50,000

Ans. cash A/c. debit ₹. 2,50,000.

To capital A/c. 2,50,000

Q. He purchased furniture for cash ₹. 35,000

Ans. furniture A/c debit 35,000

To cash A/c 35,000

Q. He paid commission 2003

Ans. commission A/c debit

To cash A/c

Q. purchase goods for cash 40,000

Ans. purchase A/c debit. 40,000

To cash A/c 40,000

Q. He sold goods costing 20,000 for cash

Ans. cash A/c debit 20,000

To sales A/c 20,000