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3. Raghunath had the following transactions in an accounting year:(1) Commenced business with cash 50,000.(i) Paid into bank *10.000.(11) Purchased goods for cash 20,000 and credit * 30,000.(iv) Sold goods for cash 40,000 costing * 30,000.(U) Rent paid 500.(ui) Rent outstanding * 100.(vii) Bought furniture # 5,000 on credit.(vii) Bought refrigerator for personal use 5,000.(ix) Purchased motorcycle for cash 20,000.Create an Accounting Equation to show the effect of the above and also show his balance sheet. |
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Answer» Answer: CAPITAL A/c.......Dr. 50000 To CASH A/c. 50000 Bank A/c.......Dr 10000 To Cash A/c. 10000 Rent A/c.......Dr 500 To Cash A/c 500 |
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