Question

.
Prepare Accounting equation on the basis of the following
1. Sagar started business with cash Rs 2,50,000 and goods Rs
50,000
2. Sold goods (costing Rs 12000) for Rs 15,000 out of which Rs
4000 received in cash.
3. Rent paid Rs 5000 and salaries out standing Rs 8000.
​

Answer 1

Explanation:

Cash A/c Dr 2,50,000

Goods. A/c Dr. 50000

Cash A/c. Dr. 4000

To Outstanding salaries.A/c. 8,000

To Capital A/c. 296000