Question

1 Raj started business with cashRs 5,00,000 and open a bank account and transferred Rs 3,00,000 from his saving account ​

Answer 1

Answer:

Explanation:

Cash A/c Dr          5,00,000.00

Bank A/c Dr          3,00,000.00

       To capital account             Rs.8,00,000.00

(Being started business with cash Rs 5,00,000 and open a bank account and transferred Rs 3,00,000 from his saving account)

Note : while transferring from his personal account, no entry will be made by Sh Raj.  Entries are only meant for business use.