Question

show the accounting equation for the following :-
(1) gopinath started business with cash 25000.
(2) purchased goods form shyam 10000. (3) sold goods to sohan ( costing 1500). for 1800.
(4) gopinath withdraw from business 5000. ​

Answer 1

Answer:

1. cash Dr 25000

To capital Cr. 25000

2. purchase Dr. 10000

To shyam Cr. 10000

3. Sohan Dr 1800

To Sale Cr. 1500

To profit in sales. Cr 300

4. Drawing Dr 5000

To Bank Cr. 5000