Question

Q.prepare Accounting Equation from the following:
a) Rahul started business with cash Rs.10000.
b) Purchased goods for cash Rs.2000.
c) purchased goods on credit Rs.1000
d) Sold goods for cash Rs.1000
e) Sold goods on credit Rs.2000​

Answer 1

Answer:

a) Cash a/c dr. 1,00,000

to capital a/c 1,00,000

b) Purchases a/c dr. 2000

to cash a/c 2000

c) Purchases a/c dr. 1000

to creditors a/c 1000

d) Cash a/c dr. 1000

to sales a/c 1000

e) Creditors a/c dr. 2000

to sales a/c 2000

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