Show the accounting equation and the Balance Sheet from the following information
Started business with cash Rs. 1,00,000; goods Rs 40,000 and furniture Rs 10,000
Purchased goods on credit for Rs, 10,000
Received commission Rs. 1,000
Sold goods(costing Rs 40,000) for Rs 42,500.
Answers
Answered by
42
THE JOURNAL ENTRY FOR THE QUESTION WUD BE:
Purchases A/c ... Dr. 40,000
Furniture A/c ... Dr. 10,000
To Cash A/c ... Cr. 50,000
Purchases A/c ... Dr. 10,000
To X Creditor A/c ... Cr. 10,000
HOPE U FIND MY ANSWER USEFUL....✌❣
PLZ THANK MY ANSWER....❤❤❤
Similar questions