Question

Sanal has the following transactions,prepare accounting equation
a) Business started with cash rupees 2,50,000
b) purchased goods for cash rupees 50,000
c)Cash withdrawn for personal use rupees 5000
d) Paid to charity rupees 2000
e)commission received in advance rupees 3000
f)opened bank account with rupees 6000​

Answer 1

Answer:

a)cash a/c dr. 250000

to Capitala/c cr. 250000

b) Purchases a/c. dr. 50000

to cash a/c cr. 50000

c) Drawings a/c dr. 5000

to cash a/c. cr. 5000

d) Donation a/c. dr. 2000

to cash a/c. cr. 2000

e) Cash a/c. dr. 3000

to commission a/c. cr. 3000

f) Bank a/c. dr. 6000

to cash a/c cr. 6000

Explanation:

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