Prepare Accounting Equation from the following:
1. Kunal started business with cash 2,50,000.
2. He purchased furniture for cash 35,000.
3. He paid commission 2,000.
4. He purchased goods on credit 40,000.
5. He sold goods (costing 20,000) for cash 26,000. (1*4=4)
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sorry bro I am not good in maths and it's such a huge question
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1. cash a/c ...dr. 2,50,000
To capital a/c 2,50,000
2. Furniture a/c ....dr. 35,000
To cash a/c 35,000
3. commission a/c ....dr. 2,000
To cash a/c 2000
4. puchases a/c ....dr. 40,000
To cash a/c 40,000
5. cash a/c....dr. 26,000
To sales a/c 26,000
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