SOLUTION: 1. For the following transactions, analyze the accounting transactions using the accounting equation framework 1. Introduced Rs500000 through a cheque by the Owner as the Initial

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Question 1193268: 1. For the following transactions, analyze the accounting transactions using the accounting equation framework
1. Introduced Rs500000 through a cheque by the Owner as the Initial capital in the business
2. Purchased goods on credit from Ms. Ritu at Rs 40000
3. Paid Rs 10000 as salary to the employees
4. Invested Rs200000 in a fixed deposit account
5. Paid school fees of the kid Rs 25000, from the business’s bank account.
Note: (2*5 = 10 marks) 1 marks for analyzing each transaction and 1 mark for
correct journal entry

Answer by ikleyn(52787) About Me  (Show Source):
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