Question

Q. 4 Give the accounting equation for the following transactions.
1. Mr. Swaraj commenced business with Bank balance 1,10,000.
2. Purchased Furniture on credit from S.M Furniture Mart * 25,000.
3. Bought goods on credit from Yuvraj 15,000.
4. Purchased Machinery * 10,000.
5. Paid Electricity bill * 3,500.
6. Goods destroyed by fire 1,500.​

Answer 1

Answer:

1. bank alc Dr 110000

to capital alc 110000

2. furniture alc Dr 25000

to s. m. furniture mart alc 25000

3. purchase alc Dr 15000

to Yuvraj alc 15000

4. machinary alc Dr 10000

to cash 10000

5. electricity alc Dr 3500

to cash Dr 3500

6. loss alc Dr 1500

to purchase alc 15000