Question

Ramesh started business with a capital of 1,00,000.
Following transactions took place during the year:
1. Deposited 60,000 in bank.
2. Purchased goods from Amit 30,000.
3. Sold goods costing *20,000 for 25,000 to Mohan out of which 7,000
received in cash.
4. Paid salary 5,000 but salary still unpaid 1,000.
5. Received commission 2,000 including 500 as advance.
6. Sold goods costing 5,000 at a loss of 500 in cash.
7. Received 17,400 from Mohan in full settlement of his account by cheque.
8. Returned goods to Amit 2,000.
9. Issued a cheque of 27,200 to Amit in full settlement of his account.
Use accounting equation to give effect to above transaction.​

Answer 1

1 -- cash inc by 1lakh capital increse by 1 lakh

2__cash dec 60000new colum bank increse with 60000

3...new stock increse by 30k and new liabilty creditors 30k increase

4...good dec by 20000 and add 7000to cash and 5000 to capital as profit and make new colum in asst of debtor 18000 inc

5...add 2000 in cash 2500 in capital 500 in new liabilty adv commision and 1000 more in cash

6...goods dec by 5000 capital der by 500 loss and add 4500 to cash

7..mohan ac will be zero add 17400 to cash and decrease 600 from capital loss

8. goods dec by 2000 and cash inc 2000

9 liabilty of amit will be zero and profit will be added to capital and ammount recived to cash

Answer 2

Answer:

1 question ka answer kya ha