Question

prepare an accounting equation :Rohit started business with cash rupees 100000, purchased furniture for cash rupees 5000, purchased goods for cash rupees 20000,purchased goods on credit rupees 36000,paid rent rupees 700, goods costing rupees 40000sold at a profit of 20 percent for cash
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Answer 1

Answer:

1) cash a/c drabit

To capital a/c =100000

2) furniture a/c drabit

To cash a/c =5000

3) cash a/c drabit

To parchased a/c =20000

4) parchased a/c drabit

To craditor a/c =36000

5)Rent a/c drabit

To cash a/c =700

6) sales a/c drabit

To cash a/c =40000