Q5. Prepare Accounting Equation from the following:-(i) Suresh started

1.	Q5. Prepare Accounting Equation from the following:-(i) Suresh started business with cash. Rs. 80,000 (ii) Purchased goods for cash Rs. 28,000 (iii) Sold goods on credit Rs. 40,000 (Cost price Rs. 30,000) (iv) Paid rent Rs. 2,000
Answer» Answer: Particulars. debit rs. Credit rs I). Cash A/c. dr. 80000. To proprietor A/c 80000 (Business was started) II). Purchases A/c. dr. 28000 To cash A/c. 28000 (Goods are SOLD) III) Cash A/c dr. 30000 PROFIT A/c. dr. 10000 To Sales Alc 40000 (Goods sold with profit) IV) Rent A/c. dr. 2,000 To Cash A/C. 2000 (Rent is payase) hope this is HELPFUL

Q5. Prepare Accounting Equation from the following:-(i) Suresh started business with cash. Rs. 80,000 (ii) Purchased goods for cash Rs. 28,000 (iii) Sold goods on credit Rs. 40,000 (Cost price Rs. 30,000) (iv) Paid rent Rs. 2,000

Answer»

Answer:

Particulars. debit rs. Credit rs

I). Cash A/c. dr. 80000.

To proprietor A/c 80000

(Business was started)

II). Purchases A/c. dr. 28000

To cash A/c. 28000

(Goods are SOLD)

III) Cash A/c dr. 30000

PROFIT A/c. dr. 10000

To Sales Alc 40000

(Goods sold with

profit)

IV) Rent A/c. dr. 2,000

To Cash A/C. 2000

(Rent is payase)

hope this is HELPFUL

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Q5. Prepare Accounting Equation from the following:-(i) Suresh started business with cash. Rs. 80,000 (ii) Purchased goods for cash Rs. 28,000 (iii) Sold goods on credit Rs. 40,000 (Cost price Rs. 30,000) (iv) Paid rent Rs. 2,000​

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Q5. Prepare Accounting Equation from the following:-(i) Suresh started business with cash. Rs. 80,000 (ii) Purchased goods for cash Rs. 28,000 (iii) Sold goods on credit Rs. 40,000 (Cost price Rs. 30,000) (iv) Paid rent Rs. 2,000