Question

Q3. Prepare an accounting equation on the basis of the following transactions:
(i) Started business with cash Rs. 70,000.
(ii) Purchased goods on credit Rs.20,000.
(iii) Withdrew cash from personal use Rs. 3,000.
(iv) Purchase of Machinery on cash for Rs. 40,000.
(v) Purchased goods on cash Rs.5.000.​

Answer 1

Explanation:

class 11th ka qestion h ye to iski journal entry batani hi to batao.me batata hu.

1. cash a/c dr .70000

To capital a/c.70000.

2.purchase a/c dr.20000

To cash a/c.20000.

3.drawing a/c dr.3000

To cash a/c.30000.

4.machinery a/c dr.40000.

To Cash a/c.40000.

5. purchase a/c dr.5000

To Cash a/c.5000.

This is journal entry not Accounting equation.. accounting equation,is Asset = Capital +liabilities

Answer 2

Explanation:

Q3. Prepare an accounting equation on the basis of the following transactions:

(i) Started business with cash Rs. 70,000.

(ii) Purchased goods on credit Rs.20,000.

(iii) Withdrew cash from personal use Rs. 3,000.

(iv) Purchase of Machinery on cash for Rs. 40,000.

(v) Purchased goods on cash Rs.5.000.