PRACTICAL PROBLEM 03
Q.3 Give the accounting equation for the following transactions:
1. Mr. Vaibhav started business with Cash Rs 1,00,000.
2. Purchased goods on credit from Rita Stores Rs 9,000.
3. Purchase Laptop for office use Rs 10,000.
4. Sold goods to Rina on credit Rs 12,000.
5. Received Interest Rs 2,500
6. Paid Telephone bill Rs 1,300.
| Sr. No | Transaction | Assets (Rs) | = | Liabilities (Rs) | + | Capital (Rs) |
| 1 | Mr. Vaibhav started business with Cash Rs 1,00,000. | 1,00,000 | = | 0 | + | 1,00,000 |
| 2 | Purchased goods on credit from Rita Stores Rs 9,000. | 1,00,000 | = | 0 | + | 1,00,000 |
| (+) 9,000 | 9,000 | 0 | ||||
| 3 | Purchase Laptop for office use Rs 10,000. | 1,09,000 | = | 9,000 | + | 1,00,000 |
| (+) 10,000 | ||||||
| (-) 10,000 | ||||||
| 4 | Sold goods to Rina on credit Rs 12,000. | 1,09,000 | = | 9,000 | + | 1,00,000 |
| (-12,000) | ||||||
| (+12,000) | ||||||
| 5 | Received Interest Rs 2,500 | 1,09,000 | = | 9,000 | + | 1,00,000 |
| (+)2,500 | (+) 2500 | |||||
| 6 | Paid Telephone bill Rs 1,300. | 1,11,500 | = | 9,000 | + | 1,02,500 |
| (-) 1,300 | (-) 1,300 | |||||
| 1,10,200 | = | 9,000 | + | 1,01,200 |