Question

started business with cash 100000

Answer 1

heyaa,,,
it's journal entry will be;
cash a/c Dr 1,00,000
to capital a/c 1,00,000.
(being business started with cash)
_________________________
☺☺☺

Answer 2

Concept:

Accounting Equation-

• The double-entry accounting system is thought to be built upon the accounting equation.
• According to the accounting formula, a company's total assets are equal to the sum of its liabilities and shareholders' equity on its balance sheet.
• The company's significant resources are represented by its assets. Their responsibilities are represented by the liabilities.
• Liabilities and shareholders' equity both show how a corporation finances its assets.
• Debt funding is displayed as a liability, whereas equity financing is displayed as shareholders' equity.

Given:

Transactions taken up by Mukesh.

Find:

Prepare an accounting equation.

Solution:

Refer image.

Since, the Left Hand Side is equal to the Right Hand Side, hence we can say that the equation is balanced.

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