Question

1 mohan started business with cash rs 30000
2purchased goods on credit from ram rs 9000
3 sold goods for cash rs 5000
4 paid salary rs 3000​

Answer 1

Solution :

• Journal entry

Mohan started business with cash rs 30000

Cash A/c Dr. Rs.30000

To capital A/c. Rs.30000

Purchased goods on credit from ram rs 9000

Purchase A/c Dr. Rs.9000

To Ram Rs.9000

• Sold goods for cash rs 5000

Cash A/c Dr. Rs. 5000

To sells A/c. Rs. 5000

• Paid salary rs 3000

Salary A/c Dr Rs. 3000

To cash A/c. Rs.000

Note :

There are three type of accounts according to tradition approach :

• Personal account

Debit the receiver and credit the giver

• Real Account

Debit what comes in and credit what goes out

• Nominal Account

Debit all loss and expense and credit all gains and income

Answer 2

Given :-

1. mohan started business with cash rs 30000

2purchased goods on credit from ram rs 9000

3 sold goods for cash rs 5000

4 paid salary rs 3000

Solution :-

1.

Cash A/c Dr. ₹ 30000  

To capital A/c. ₹ 30000

2.

Purchase A/c Dr. ₹ 9000  

To Ram ₹ 9000

3.

Cash A/c Dr. ₹ 5000  

To sell A/c. ₹ 5000

4.

Salary A/c Dr ₹  3000  

To cash A/c. ₹ 3000

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