Prepare accounting equation from the following- Rs a Kunal started business with cash - 2-50-000 text bHe purchased furniture for cash - 35-000 1 c He paid commission - 2-000 1 d He purchase goods on credit - 40-000 1 exte He sold goodscosting Rs 20-000 for cash - 26-000 lendarray

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Standard XI

Accountancy

Logical Description of Accounting Equation(AE)

Prepare accou...

Question

Prepare accounting equation from the following

$\begin{matrix} | (R s) (a) Kunal started business with cash & 2, 50, 000 (b)He purchased furniture for cash & 35, 000 (c) He paid commission & 2, 000 (d) He purchase goods on credit & 40, 000 (e) He sold goods(costing Rs 20,000) for cash & 26, 000 \end{matrix}$

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Solution

Statement showing the effect of various transactions on Accounting Equation

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Similar questions

Prepare accounting equation from the following:

		Rs
(a)	Kunal started business with cash	2,50,000
(b)	He purchased furniture for cash	35,000
(c)	He paid commission	2,000
(d)	He purchases goods on credit	40,000
(e)	He sold goods (costing Rs 20,000) for cash	26,000

Prepare an accounting equation from the following:

(i) Kunal started business with cash 2,50,000 Rs

(ii) He purchased furniture for cash 35,000 Rs

(iii) He paid commission 2,000 Rs

(iv) He purchased goods on credit 40,000 Rs

(v) He sold goods (costing 20,000) for cash 26,000 Rs

Q. Prepare Accounting Equation from the following:

		(₹)
(a)	Kunal started business with cash	2,50,000
(b)	He purchased furniture for cash	35,000
(c)	He paid commission	2,000
(d)	He purchased goods on credit	40,000
(e)	He sold goods (Costing ₹ 20,000) for cash	26,000

Q. Prepare an Accounting Equation and Balance Sheet on the following basis:
(i) Ajeet started business with cash ₹ 20,000.
(ii) He purchased furniture for ₹ 2,000.
(iii) He paid rent of ₹ 200.
(iv) He purchase goods on credit ₹ 3,000.
(v) He sold goods (cost price ₹ 2,000) for ₹ 5,000 on cash.

Mohit has the following transactions , prepare accounting equation

$\begin{matrix} (R s) (a)Business started with cash & 1, 75, 000 (b) Purchased goods from Rohit & 50, 000 (c) Sales goods on credit to Manish (Costing Rs 17,500) & 20, 000 (d) Purchased furniture for office use & 10, 000 (e) Cash paid to Rohit in full settlement & 48, 500 (f) Cash received from Manish & 20, 000 (g) Rent paid & 1, 000 (h) Cash withdraw for personal use & 3, 000 \end{matrix}$

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Prepare accounting equation from the following |(Rs)(a) Kunal started business with cash2,50,000(b)He purchased furniture for cash35,000(c) He paid commission2,000(d) He purchase goods on credit40,000(e) He sold goods(costing Rs 20,000) for cash26,000

Statement showing the effect of various transactions on Accounting Equation