Prepare accounting equation from the followings
a) Business started with cash Rs 80000
b) Goods purchase rupees 20,000 in Cash and credit rupees 30,000
c) Machinery purchase rupees 15,000
d) Goods costing rs20,000 sold at rupees 24,000 in cash
e) Rent received rupees 5000
f) Salary paid rupees 4000
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Explanation:
a. cash a/c....dr 80,000
To capital a/c 80,000
b. puchases a/c....dr 50,000
To cash a/c 20,000
To creditors a/c 30,000
c. machinery a/c...dr 15,000
To cash a/c 15,000
d. cash a/c....dr 24,000
To sales a/c 24,000
e. rent a/c...dr 5,000
To cash a/c 5,000
f. salary a/c....dr 4,000
To cash a/c 4,000
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