Question

Q. 2. Give Accounting equation for following transaction.
1) Commenced business with cash 8000
(2) Purchased goods from Mr. Sahil * 30,000
3) Sold goods 10,000 for cash
4) Paid Electricity bill * 1,5000
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Answer 1

Answer:

cash A/c -DR 8000

purchase a/c -DR 30000

cash a/c- Dr 10000

electricity bill-DR 15000

To shail a/c30000

To sales a/c 10000

to cash/bank a/c 15000

to capital a/c 8000