Question

prepare accounting equation from the following: (a) started business with cash rupees 40000 and stock rupees 80000. (b) purchased good costing 12250 at 10% trade discount from Mr Kishor. (c) paid for salary rupees 9500 salary outstanding rupees 500​

Answer 1

Answer:

a. Cash a/c dr. 40000

Stock a/c dr. 80000

To capital 120000

b. Purchase a/c dr. 11025

To mr. Kishor 11025

c. Salary a/c dr. 9500

To cash a/c 9000

To outstanding salary 500