Question

Prepare accounting equation from the following:
(a) Kunal started business with cash Rs.2,50000
(b) He purchased furniture for cash Rs. 35,000
(c) He paid commission Rs. 2,000
(d) He purchases goods on credit Rs. 40,000
(e) He sold goods (Costing Rs.20,000) for cash Rs. 26,000

Answer 1

Answer:

Answer:a)Cash A/c Dr. 250000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000 To Cash A/c 2000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000 To Cash A/c 2000Mr. X (Debtors) A/c Dr. 40000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000 To Cash A/c 2000Mr. X (Debtors) A/c Dr. 40000 To Sales A/c 40000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000 To Cash A/c 2000Mr. X (Debtors) A/c Dr. 40000 To Sales A/c 40000Cash A/c Dr. 26000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000 To Cash A/c 2000Mr. X (Debtors) A/c Dr. 40000 To Sales A/c 40000Cash A/c Dr. 26000 To Sales A/c 20000

Answer:a)Cash A/c Dr. 250000 To Capital A/c 250000Furniture A/c Dr. 35000 To Cash A/c 350000Commission A/c Dr. 2000 To Cash A/c 2000Mr. X (Debtors) A/c Dr. 40000 To Sales A/c 40000Cash A/c Dr. 26000 To Sales A/c 20000 To P&L A/c 6000

Answer 2

The accounting equation is shown below:

Explanation:

The accounting equation is as follows:

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