Show the effect of following transaction on the accounting equation:
Rs
(a)
Manoj started business with
(i) Cash
2,30,000
(ii) Goods
1,00,000
(iii) Building
2,00,000
(b)
He purchased goods for cash
50,000
(c)
He sold goods(costing Rs 20,000)
35,000
(d)
He purchased goods from Rahul
55,000
(e)
He sold goods to Varun (Costing Rs 52,000)
60,000
(f)
He paid cash to Rahul in full settlement
53,000
(g)
Salary paid by him
20,000
(h)
Received cash from Varun in full settlement
59,000
(i)
Rent outstanding
3,000
(j)
Prepaid Insurance
2,000
(k)
Commission received by him
13,000
(l)
Amount withdrawn by him for personal use
20,000
(m)
Depreciation charge on building
10,000
(n)
Fresh capital invested
50,000
(o)
Purchased goods from Rakhi
6,000
Answers
Answered by
7
HEY.
U R ANSWER ♠....
1 CASH AC DR
GOODS AC DR
BUILDING AC DR
TO MANOJ CAPITAL AC
2. PURCHASE AC DR
TO CASH AC
3. CASH AC DR
TO SALES AC
4. RAHUL AC DR
TO DISCOUNT AC
TO CASH AC
5. SALARY AC DR
TO CASH AC
6. CASH AC DR
DISCOUNT AC DR
TO VARUN AC
7. RENT AC DR
TO CASH AC
8. PREPAID INSURANCE IS A ASSET OF BUSINESS
CASH AC DR
TO INSURANCE AC
9. CASH AC DR
TO COMMISSION AC
10. DRAWING AC DR
TO CASH AC
11. DEPRECIATION AC DR
TO CASH AC
12. CASH AC DR
TO CAPITAL AC
13 PURCHASE AC DR
TO RAKHI AC ....
HOPE U UNDERSTAND....
PLEASE MAKE ME BRAINLIST........
^_^☺☺☺☺☺
U R ANSWER ♠....
1 CASH AC DR
GOODS AC DR
BUILDING AC DR
TO MANOJ CAPITAL AC
2. PURCHASE AC DR
TO CASH AC
3. CASH AC DR
TO SALES AC
4. RAHUL AC DR
TO DISCOUNT AC
TO CASH AC
5. SALARY AC DR
TO CASH AC
6. CASH AC DR
DISCOUNT AC DR
TO VARUN AC
7. RENT AC DR
TO CASH AC
8. PREPAID INSURANCE IS A ASSET OF BUSINESS
CASH AC DR
TO INSURANCE AC
9. CASH AC DR
TO COMMISSION AC
10. DRAWING AC DR
TO CASH AC
11. DEPRECIATION AC DR
TO CASH AC
12. CASH AC DR
TO CAPITAL AC
13 PURCHASE AC DR
TO RAKHI AC ....
HOPE U UNDERSTAND....
PLEASE MAKE ME BRAINLIST........
^_^☺☺☺☺☺
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