Question

SBPD Publications Financial Accounting (X)
Be
s
te aldeaus Beige
ERLA
2013
repare Aceounting Equation on the basis of the following transactions
(1) Govind started business with :
Cash rs 70000
Machine RS 50000
Purchased goods on credit RS 32,000
Payment made to creditors in full settlement RS 30400
Interest on drawings RS 600
Depreciation on machinery rs.5000​

Answer 1

Answer:

cash a/ c ....Dr 700000

To Capital a/c 700000

2.

machine a/c ....Dr 50000

To cash a/ c 50000

3. purchase of goods a/c ....Dr. 32000

To Sunday creditors a/c 32000

4. sundry creditors a/c.....Dr. 32000

To discount received 1600

To cash a/c 30400

5. 1. capital a/c.......Dr 600

To interest on drawing 600

2. interest on drawing a/c....Dr 600

To profit and loss 600

6. Depreciation a/c ....Dr 5000

To machine 5000