Prepare the accounting Equations for the following transactions 31.08.2023
1.Prepare Accounting Equation for the following transactions:
Date: April 1, 2022 Mr. A introduced INR 5,00,000as capital into the business.
Date: April 5, 2022 Purchased inventory for cash: INR 20,000. ```
Date: April 10, 2022 Made sales for cash: INR 15,000. ```
Date: April 12, 2022 Purchased inventory on credit: INR 12,000. ```
Date: April 15, 2022 Made sales on credit: INR 18,000.
Date: April 18, 2022 Returned some defective inventory for cash: INR 2,000.
Date: April 20, 2022 Accepted returned goods from a customer: INR 3,500.
Date: April 25, 2022 Paid wages to employees: INR 8,000.
Date: April 28, 2022 Paid salaries to employees: INR 15,000.
Date: April 30, 2022 Charged depreciation on machinery for the month: INR 1,500.
Date: April 30, 2022 Charged depreciation on machinery for the month: INR 1,500.
2.Prepare Accounting Equation for the following transactions:
Date: April 1, 2022 Mr. A introduced INR 4,50,000 as capital into the business.
Date: April 5, 2022 Purchased inventory for cash: INR 1,20,000. ```
Date: April 10, 2022 Made sales for cash: INR 1,15,000. ```
Date: April 12, 2022 Purchased inventory on credit: INR 1,12,000. ```
Date: April 15, 2022 Made sales on credit: INR 1,18,000.
Date: April 18, 2022 Returned some defective inventory for cash: INR 12,000.
Date: April 20, 2022 Accepted returned goods from a customer: INR 13,500.
Date: April 25, 2022 Paid wages to employees: INR1 8,000.
Date: April 28, 2022 Paid salaries to employees: INR 1,15,000.
Date: April 30, 2022 Charged depreciation on machinery for the month: INR 1150
3.Prepare Accounting Equation for the following transactions:
April 1, 2022 Mr. A introduced INR 3,50,000 as capital into the business.
Date: April 5, 2022 Purchased inventory for cash: INR 3000. ```
Date: April 10, 2022 Made sales for cash: INR 3500. ```
Date: April 12, 2022 Purchased inventory on credit: INR 42,000. ```
Date: April 15, 2022 Made sales on credit: INR 28,000.
Date: April 18, 2022 Returned some defective inventory for cash: INR 32,000.
Date: April 20, 2022 Accepted returned goods from a customer: INR 13,500.
Date: April 25, 2022 Paid wages to employees: INR1 8,000.
Date: April 28, 2022 Paid salaries to employees: INR 35,000.
Date: April 30, 2022 Charged depreciation on machinery for the month: INR 11,500.
Date: April 30, 2022 Charged depreciation on machinery for the month: INR 11,500.
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