Show the effect of Accounting equation on the following transactions : (a) Started business with ` 1,00,000 (b) Purchased goods for cash ` 20,000 (c) Sold goods to Priya on credit ` 40,0000
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I think option c if right mark as brainlist
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A. Capital a/c. Dr. 1,00,000
To Cash a/c. 1,00,000
(Being capital invested to commence business)
B. Purchases a/c dr. 20,000
To cash a/c. 20,000
Being goods purchased on cash.
C. Priya a/c. Dr. 40,000
To sales a/c. 40,000
Being goods sold to Priya on credit
To Cash a/c. 1,00,000
(Being capital invested to commence business)
B. Purchases a/c dr. 20,000
To cash a/c. 20,000
Being goods purchased on cash.
C. Priya a/c. Dr. 40,000
To sales a/c. 40,000
Being goods sold to Priya on credit
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