Question

started business with cash rs 10000 paid rent in advance rs 300purchase goods for cash 5000 & credit 2000 sold goods for rs 8000 costing 4000 paid salary 450 outstanding salary 100 bought motorcycle rs 3000 personal use prove the accounting equation

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Answer 1

Answer:

1. cash ac dr 10000

To capital ac 10000

2. Rent paid in advance ac dr 300

to cash ac cr 300

3. cash ac dr 5000

to sales ac cr 5000

4. party ac dr 2000

to sales ac cr 2000

5. party ac dr 4000

discount ac dr 4000

to sales ac cr 8000

6.salry ac dr 450

to cash ac cr 450

7. salary ac dr 100

to o/s salary ac cr 100

8. drawings ac dr 3000

to profit and loss ac 3000