Question

show the accounting equation on the basis of the following transaction 1.abu started business with ₹30,00 2.purchased goods for cash ₹7, 000 3.purchased goods on credit ₹6,000 4.cash paid to creditor ₹5.000 5.paid rent ₹800​

Answer 1

Answer:

1.casha/c Dr. 30000

to capital. 30000

2. purchases. Dr. 7000

to cash. 7000

3. purchases alc Dr. 6000

to creditor. 6000

4. debtor alc Dr. 5000

to cash. 5000

5. rent a/c. Dr. 800

to cash a/c. 800