Question

)
01 Write journal entry of business commenced by Shri Maulik Shah with a
name of Shah traders:
July 1 Brought Rs 50000 cash, debtors Rs 20000 stock of goods Rs 10000
and creditors Rs 5000 and commenced business
2 Deposited cash Rs 20000 with Vijaya Bank and opened account
3 Goods of Rs 20000 purchased from Surnul at 10%, trade discount and​

Answer 1

Answer:

particulars: cash account:50000

debtors account:20000

stock of goods account :10000

to creditors account:5000

to capital account:75000

Explanation:

1st-50000+20000+10000=80000

80000-5000=75000

hence proved.