Question

show the accounting equation of the basis of the following transaction

1) abu started business with ₹30,000
2) purchased good for cash ₹ 7000
3)purchased goods for credits ₹ 500
4)cash paid to creditor ₹500
5)paid rent 800
plz sove this problem..... ​

Answer 1

Answer:

cash a/c. dr. 30000

to capital a/c. 30000

purchases a/c. dr. 7000

to cash a/c. 7000

purchases a/c. dr. 500

to creditors a/c. 500

creditors a/c. dr. 500

to cash a/c. 500

rent a/c. dr. 800

to cash a/c. 800

Explanation:

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