Question

1. From the following particulars, prepare the proprietor's capital account.
April 1 : Started business with cash Rs 45,000
May 10: Withdrew from business for personal use Rs 10,000
July 15 : Further capital introduced Rs 55,000
Nov 30 : Income tax Paid 5,000
March 31 : profit for the year Rs 30,000
explain fully​

Answer 1

Answer:

cash ac dr 45000

to capital's ac 45000

cash ac dr 10000

to drawings ac 10000

cash ac dr. 55000

to capital ac 55000

income tax ac dr 5000

to cash ac 5000

Answer 2

Answer:

Answer:

cash ac dr 45000

to capital's ac 45000

cash ac dr 10000

to drawings ac 10000

cash ac dr. 55000

to capital ac

55000

income tax ac dr 5000

to cash ac 5000