Question

Show the accounting equation on the basis of following transactions.

1)commenced business with cash rupees 20000, with goods rupees 50000 and furniture of rupees 30000

2) purchased goods from Gopal on credit rupees 40000

3) sold goods for cash rs. 40000 costing rs.30000

4) sold goods to Ram on credit RS 65000 costing rs 50000

5) withdrew for personal use goods costing rs 9000



2005

1)purchased goods from Ram for rupees 50000 on 10% trade discount and 4% cash discount.

2)Small bounght goods of cash of the list price rupees 80000 at 10% Trade discount and 2.5 % cash discount.

3) sold goods to muskan off the list price rupees 250000 at trade discount of 20%.

4) next day muskan returned goods of rupees 5000 of the list price

5) rent paid rupees 300 and salary of rupees 5000

6)Received from muskan the full payment under a cash discount of 6.5%.

7) Sahil video for personal use rupees 10000.

8) Bought machine for cash rs 8000


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Answer 1

Answer:

2) purchase a/c Dr. 40000

to cash a/c. 40000

3)cash a/c. dr. 30000

profit 10000

to sale a/c. 40000

4)ram a/c. dr. 40000

to sales a/c. 40000

5) drawing a/c 9000

to cash a/c 9000