State the rules of debit and credit according to the nature of accounts.

Journalise the following transactions:
(i) Goods destroyed by fire for Rs.4,500.
(ii) Paid Rs.1,500 in cash as wages on installation of machinery.
(iii) Issue a cheque in favour of M/s. Parmatma Saran & Sons on accounts of purchase of goods Rs.7,500.
(iv) Goods sold costing Rs.6,000 of M/s. Kalu sons at an invoice price of 10% above cost less 5% Trade Discount,

Pass necessary Journal Entries in the books of Rohit Industries:
(i) Wages due but not paid Rs.1,000
(ii) Received Rs.600 from Mohan, which were written off as bad debts 2 years ago.
(iii) Shyamlal who owed us Rs.4,000 becomes insolvent and a final dividend of 40 paise in a rupee is received from his house.
(iv) Goods distributed as free sample Rs.3,000.

What are the various subsidiary books of accounts which may replace a journal to an extent? Explain in brief the transactions which are recorded in these books

Describe how accounts are used to record information about the effects of transactions?

Prepare the accounting equation on the basis of the following transactions:
(i) Commenced business with cash Rs.50,000 and goods Rs.30,000
(ii) Paid Salary Rs.5,000
(iii) Purchased goods for cash Rs.10,000 and on credit Rs.20,000
(iv) Goods costing Rs.25,000 sold at profit of 20% on cost out of which Rs.10,000 received in cash.

Prepare accounting equation on the basis of the following transactions:

Journalise the following transactions:
(i) Bought goods for Rs.5,000 plus CGST and SGTS @ 6% each.
(ii) Sold goods to Mehtab for Rs.50,000, charged CGST and SGST @ 6% each.
(iii) Sold goods to Arpana for Rs.60,000 against cheque, charged IGST @ 12%
(iv) Computer purchased by Atul & Co., Delhi for office use from HP Ltd., Greater Noida (UP) for Rs.50,000 plus IGST @ 12%, payment made by cheque.
(v) Paid Telephone bill of Rs.5,000 plus CGST and SGST @ 6% each.
(vi) Goods that were purchased paying CGST and SGST @ 6% each costing Rs.1000 given as charity.

On the basis of the narrations, fill in the missing values:

Accounting equation remains intact under all circumstances. Justify the statement with the help of an example.