What is accounting, accounting equation?

What will be the effect of following on accounting equation?

• each of this sub-question is for 4 marks..i am confused what to write plz solve it..and tell me what is accounting equation.... 1.purchased goods for rs.20,000 from Mahesh on credit. 2.sold goods to Suresh costing Rs.8,000 for Rs.10,000 in cash 3.paid wages Rs.500 4.withdrew in cash for private use Rs.2000 5.paid to creditors Rs.5,000

• Answer:

  1.purchased goods for rs.20,000 from Mahesh on credit. Purchase Stock Dr. Rs.20,000 To Mahesh Rs 20,000 2.sold goods to Suresh costing Rs.8,000 for Rs.10,000 in cash Cost of goods sold Dr. Rs 8,000 To Purchase stock Rs 8,000 Cash Dr. Rs 10,000 To sales Rs 10,000 3.paid wages Rs.500 Wages a/c Dr. Rs. 300 To cash Rs. 300 4.withdrew in cash for private use Rs.2000 Current account Dr. Rs 2,000 To cash Rs. 2,000 5.paid to creditors Rs.5,000 Creditors account Dr. Rs. 5,000 To cash Rs. 5,000