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Activity 1: Analyzing Transactions

From the following transactions, identify:

1. Two aspects
2. Two accounts involved
3. Classify the accounts and fill in the following tables.

Transactions:
1. Started business with cash ₹ 50,000.
2. Purchased machinery on credit from Avinash ₹ 20,000.
3. Purchased goods ₹ 5,000 from Rahul with cash.
4. Sold goods to Aniket ₹ 6,000 on credit.
5. Paid salary ₹ 1,000.
6. Sold old tables for ₹ 3,000.

Solution:

1. Two Aspects
\begin{tabular}{|c|c|c|}
\hline
Sr. No. & Aspect I & Aspect II \\
\hline
1 & Cash (Debit) & Capital (Credit) \\
\hline
2 & Machinery (Debit) & Avinash's Account (Credit) \\
\hline
3 & Goods (Debit) & Cash (Credit) \\
\hline
4 & Aniket's Account (Debit) & Sales (Credit) \\
\hline
5 & Salary (Debit) & Cash (Credit) \\
\hline
6 & Cash (Debit) & Old Tables (Credit) \\
\hline
\end{tabular}



Answer :

GinnyAnswer
To solve this exercise, we will analyze each transaction, identify the two aspects involved, and classify the relevant accounts.

### Step-by-Step Solution:

1. Transaction: Started business with Cash ₹ 50,000.
- Aspect I: Cash
- Aspect II: Capital

2. Transaction: Purchased Machinery on credit from Avinash ₹ 20,000.
- Aspect I: Machinery
- Aspect II: Creditors (Avinash)

3. Transaction: Purchased goods ₹ 5,000 from Rahul on cash.
- Aspect I: Goods
- Aspect II: Cash

4. Transaction: Sold goods to Aniket ₹ 6,000 on credit.
- Aspect I: Debtors (Aniket)
- Aspect II: Sales

5. Transaction: Paid Salary ₹ 1,000.
- Aspect I: Salary
- Aspect II: Cash

6. Transaction: Sold old Tables for ₹ 3,000.
- Aspect I: Cash
- Aspect II: Furniture

Based on the analysis above, we can fill the following tables:

#### Two Aspects Table

[tex]\[ \begin{array}{|c|c|c|} \hline \text{Sr. No.} & \text{Aspect I} & \text{Aspect II} \\ \hline 1 & \text{Cash} & \text{Capital} \\ \hline 2 & \text{Machinery} & \text{Creditors (Avinash)} \\ \hline 3 & \text{Goods} & \text{Cash} \\ \hline 4 & \text{Debtors (Aniket)} & \text{Sales} \\ \hline 5 & \text{Salary} & \text{Cash} \\ \hline 6 & \text{Cash} & \text{Furniture} \\ \hline \end{array} \][/tex]

These tables correctly identify the two aspects for each transaction, ensuring proper classification.

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