Question

Q3 Show the accounting equation on the basis of the following transactions :
(a) Mr J commenced business with Rs 11,50,000.
(b) Wages paid Rs 4,000 and outstanding Rs 6,000.
(C) Goods purchased for Rs 80,000.
(d) Computer purchased from Star Computers worth Rs 30,000 and paid half the
amount in cash
(e) Invested Rs. 90,000 into the bank.
(f) Goods purchased from Mr V for Rs 8,000 and made the payment by cheque.
(8) Purchased a building for Rs. 6,00,000 and the payment was made by cash.
(h) 1/2 of the stock available was sold to Mr S at a profit of 25% on cost.​

Answer 1

Answer:

Show the accounting equation on the basis of the following transactions :

(a) Mr J commenced business with Rs 11,50,000.

(b) Wages paid Rs 4,000 and outstanding Rs 6,000.

(C) Goods purchased for Rs 80,000.

(d) Computer purchased from Star Computers worth Rs 30,000 and paid half the

amount in cash

(e) Invested Rs. 90,000 into the bank.

(f) Goods purchased from Mr V for Rs 8,000 and made the payment by cheque.

(8) Purchased a building for Rs. 6,00,000 and the payment was made by cash.

(h) 1/2 of the stock available was sold to Mr S at a profit of 25% on