Question

Section - C
TIL Answer any FOUR of the following questions
17. Rohit has the following transactions. Prepare accounting equations
a) Commenced business with cash Rs 200000
b) Purchased machinery on credit Rs 25000, from Mohit Traders.
c) Paid to Mohit Traders creditors in lull setilement Rs 23000​

Answer 1

Cash A/C dr
To capital A/C

Machine A/C dr
To Mohit traders A/C

Mohit traders A/C 25000
To Cash A/C. 23000
To discount received A/C 2000

Verify the 3rd entry.