Question

Rohit has the following transactions. Prepare Accounting Equation:
a)Commenced business with cash 2,00,000
b) Purchased machinery on credit Rs. 25,000 from Mohit Traders
c)Paid to Mohit Traders creditors in full settlement Rs. 23,000
d)Repair charge on machinery Rs. 2,500
e)Paid rent Rs. 5,000
f) Cash purchases Rs 5000

give correct answer otherwise i will report.​

Answer 1

Answer:

a) cash a/c Dr. 2,00,000

To capital a/c 2,00,000

b)machinery a/c Dr. 25,000

To mohit traders a/c 25,000

c)mohit traders a/c Dr. 23,000

To cash a/c 23,000

d)purchase a/c Dr. 2,500

To machinery a/c 2,500

e)rent a/c Dr. 5,000

To cash a/c 5,000

f)purchase a/c Dr. 5000

To cash a/c 5000