Question

show the accounting equation on the basics of following
(a) started business with cash 60000
(b) purchased goods for cash 20000
(c) sold goods for cash costing 10000 for 15000
(d) paid rent by cash 500
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Answer 1

Carriage on purchase 8,000 shipping and Railway charge 4,000

Custom duty 3,000 freight 7000

Purchase 27,000 return inward5,000

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Answer 2

Answer:

1)cash a/c dr       60000

  to capital a/c               60000

Explanation: