Question

Show an Accounting Equation for the following transactions :

(1) Ajay started business with cash of Rs 2,00,000, Stock Rs 50,000, Machinery Rs 30,000 and Creditors Rs 30,000.

(ii) Salary outstanding Rs 5000.

(iii) Paid 90% of creditors in full settlement. (iv) Depreciation on machinery @10%p.al

17. Rectify the following errors by passing Journal entries: (1) Pald wages for the construction of the building debited to wages account Rs 2,00,000.

(ii) Credit sales to Mayank for Rs 7,000 were credited to mayank's account as Rs 5,000.

(iii) Sales Return Book overcast by Rs 1,000.

(iv) Discount recieved of Rs 200 shown as Rs 2,000​

Answer 1

Answer:

pleas correct the question

Explanation:

outstanding salary always added to the salary

but salary is not a mention