1. Started business with 2,00,000 in bank 2. Withdrew 50,000 for business use in cash 3. Bought furniture worth 10,000 (on credit) 4. Bought goods worth 45,000 with 20,000 cash payment and rest on credit 5. Sold goods worth 20,000 for 25,000 for cash 6. Payment made to the creditor for 25,000 7. Bought goods worth 70,000 from bank balance 8. Sold goods worth 50 000 on credit in trial balance
Answers
Answer:
1. bank account. Dr. 2,00,000
to capital account. 2,00,000
2. cash account. Dr. 50,000
to drawing account. 50,000
3. purchase account. Dr. 10,000
to credit account. 10,000
4. purchase account. Dr. 45,000
to credit account. 25,000
to cash account. 20,000
5. purchase account. Dr. 20,000
cash account. Dr. 25,000
to. cash account. 20,000
to sale account. 25,000
6. credit account. Dr. 25,000
to cash account. 25,000
7. purchase account. Dr. 70,000
to. bank account. 70,000
8. credit account. Dr. 50,000
to sales account. 50,000
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