Illustrations of Accounting Equations

Complete the following Accounting equation table.

Give necessary transactions for the following effect of increase and decrease in Assets, Capital and Liabilities.

Show accounting equation for the following transactions:

1. Rohit started the business with cash of ₹ 50,000.

2. Bought goods on credit from Manoj ₹ 6,000.

3. Cash purchases ₹ 5,000.

4. Paid wages ₹ 3,000 to Casual labour.

5. Sold goods to Santosh ₹ 7,000 on credit.

6. Received Commission ₹ 1,000 from Vaishali.

Give the accounting equation for the following transactions:

1. Mr. Vaibhav started the business with Cash of ₹ 1,00,000.
2. Purchased goods on credit from Rita Stores ₹ 9,000.
3. Purchased Laptop for office use ₹ 10,000.
4. Sold goods to Rina on credit ₹ 12,000.
5. Received Interest ₹ 2,500.
6. Paid Telephone bill ₹ 1,300.

Give the accounting equation for the following transactions.

1. Mr. Swaraj commenced business with a Bank balance of ₹ 1,10,000.
2. Purchased Furniture on credit from S.M Furniture Mart ₹ 25,000.
3. Bought goods on credit from Yuvraj ₹ 15,000.
4. Purchased Machinery ₹ 10,000.
5. Paid Electricity bill ₹ 3,500.
6. Goods destroyed by fire ₹ 1,500.