Question

1) rehman commenced business with cash ₹50,000
2) purchase goods on credit ₹18000
3) withdraw cash for private use ₹12000
4)goods costing ₹10000 sold on credit for ₹9000

Answer 1

Answer:

1. Cash a/c dr. 50,000

to capital a/c 50,000

2. Purchases a/c dr. 18,000

to creditors a/c 18,000

3. Drawings a/c dr. 12,000

to cash a/c 12,000

4. Debtors a/c dr. 9,000

to sales a/c 9,000

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