(a) Ram started a business with cash Rs. 5000. (b) He purchased goods Rs. 4000. (c) He sold goods on credit to Balraj Rs. 500. (d) He paid rent Rs. 500. (e) He withdrew cash for private use Rs. 500.
Added by Carrie G.
Step 1
5000 Initial cash balance: $\textbf{5000}$ Show more…
Show all steps
Your feedback will help us improve your experience
Madhur L and 91 other Principles of Accounting educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Recommended Videos
Invested capital in the firm 20,000. Purchased goods on credit from Das & Co, for 2,000. Bought plants for cash 8,000. Purchased goods for cash 4,000. Sold goods for cash (cost 4,000 + profit 2,000) 6,000. Paid to Das & Co in cash 1,000. Received from B. Banerjee 300. Paid salary 6,000. Received interest 5,000. Paid wages 3,000.
Madhur L.
Mohit has the following transactions. Prepare the accounting equation. a. Business started with cash. b. Purchased goods from Rohit for Rs. 50,000. c. Sold goods on credit to Manish (costing Rs. 17,500) for Rs. 20,000. d. Purchased furniture for office use for Rs. 10,000. e. Cash paid to Rohit in full settlement for Rs. 48,500. f. Cash received from Manish for Rs. 20,000. g. Rent paid for Rs. 1,000. h. Cash withdrawn for personal use for Rs. 3,000.
Q- Monu had the following transactions 1. Started business with cash - 100000 2. Deposit cash into bank - 60000 3. Bought a machine by raising a bank loan -50000 4. Bought goods for cash 20000 and on credit - 40000 5. Goods bought for cash was sold to amit - 25000 6. Amit returned goods worth - 5000 7. Amit settled his account by paying - 19500 8. Paid instalment of bank loan 20000 and paid interest by cheque 2000 9. Charge 10% deprection on machine Use accounting equation to show effect of above transaction
Kevra B.
Recommended Textbooks
Horngren’s Cost Accounting
Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD