Question

Show accounting equation for the following transaction 1. Rohit started business with cash Rs. 50,000.
2. Bought goods on credit from Manoj Rs. 6000.
3. Cash purchase Rs. 5000.
4. Paid wages Rs. 3000 to casual labour. 5. Sold goods to Santosh Rs. 7000 on credit. 6. Received commission Rs. 1000 from Vaishali.

Answer 1

Answer:

Explanation:

1. cash ac Dr 50000

To Rohit capital ac 50000

2.purchase ac Dr 6000

To Manoj ac 6000

3.purchase ac Dr 5000

To cash ac 5000

4. Wages ac Dr 3000

To cash ac 3000

5. Santosh ac Dr 7000

To sales ac 7000

6. Cash ac Dr 1000

To commission received ac 1000

Answer 2

Answer:

rohit started business with cash50000