Question

show the accounting equation on the basis of the following transaction.
1_ Mukesh started business with cash Rs. 80,000
2_purchased goods for cash RS. 28,000
3_ purchase goods on credit Rs. 20,000
4_ purchase furniture for cash Rs. 6000​

Answer 1

1. cash = +80000 capital=+ 80000

2. stock = +28000 cash = - 28000

3. stock = +20000 creditors= +20000

4. furniture= +6000 cash = -6000

Answer 2

Answer:

Dr. 134000 | Cr. 134000

Explanation:

capital account Dr. 80000

cash account Cr. 80000

purchase acc. Dr.28000

cash acc.Cr 28000

cash account Dr.20000

cash accountCr. 20000

funiture account Dr. 6000

cash accountCr.6000