Question

Show an accounting equation on the basis of following:
Sunil started business with cash ₹1500000
Opened a bank account by depositing₹25000 out of cash
He sold personal car for 50000 and deposited amount in firms bank account
Purchased building and furniture for ₹100000
Purchased goods on credit for 50000

Answer 1

Answer:

Explanation:

Transaction             cash        Bank     stock    Debtor    Creditor       capital

Started  bussiness  1500000    -                                                             1500000

Opened bank A/c    250000     250000                                                1500000

Purchase furniture                                   100000. 100000

purchase goods. 50000. 50000

cash on sale. 50000