Question

prepare accounting equation from the following transaction
1.sumit started business with cash 50,000
2.purchased furniture for cash 6,000
3.Brought goods from Ram on credit 15,000
4.withdraw cash₹4,000 and goods for ₹5,000 for personal use.
5.Sold goods costing ₹8,000at a profit of 25%
6.paid to creditors 10,000
7.Received Interest 2,000​

Answer 1

Answer:

cash A/c Dr. 50000

to capital A/c 50000

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furniture A/c Dr 6000

to cash A/c. 6000

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purchase A/c Dr. 15000

to ram A/c 15000

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cash A/c Dr. 4000

drawing A/c Dr 5000

to bank A/c 9000

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