Question

Q.3 give the Accounting equation for the following transactions

Answer 1

Cash a/c. Dr 100000

To capital a/c. 100000

Purchase a/c Dr 9000

To Rita's a/c. 9000

Office experience a/c. Dr 10000

To casha/c. 10000

Rina's a/c. Dr 12000

To sales. 12000

Cash a/c Dr 2500

To interest a/c. 2500

Telephone bill a/c. Dr. 1300

To cash a/c. 1300

Answer 2

1. Mr vaibhav started business with 1,00,00. asets 1,000,000 = Liabilities 0 + capital rs 1,00,000
2. Purchased goods on credit from Rita Store rs 9,000 . asets 1,00,000+9,000 liabilities 0+9,000 + capital 1,00,000