Question

1 - mayank started business with cash 100000. opened a bank account and transferred 400000from his saving account

2- purchased a building from sohan for 1200000 paid by taking a loan from SBI.

3- paid intrest on loan 20000 anf instalment of 100000 by cheque.

4- purchased goodsfrom rohan on credit 100000

5- sold goods costing 40000 for 50000 on credit to ram.

6- accured intrest 5000

Answer 1

Answer:

Cash A/C Dr 1,00,000

Bank A/C Dr 4,00,000

To Capital A/C 5,00,000

Bank A/C Dr 12,00,000

To Bank Loan A/C 12,00,000

Building A/C Dr 12,00,000

To Bank A/C 12,00,000

Interest on loan A/C Dr 20,000

To Bank Loan A/C 20,000

Bank Loan A/C Dr 1,20,000

To Bank A/C 1,20,000

Purchase A/C Dr 1,00,000

To Rohan A/C 1,00,000

Ram A/C Dr 50,000

To Sales A/C 50,000

( accrued interest --- incomplete info)