Question

(16)
To which account, the following transactions will be debited and credited in the
books of Sachin ? Describe with reason.
(a) Rs. 50,000 brought in cash started business
(b) Purchased goods of Rs. 8,000 from Tarun and directly sold to Rashmika for
Rs. 10,000
(c)Goods of Rs. 500 are destroyed by fire. Insurance company accepted a claim
of Rs. 400.
(d) Received an order from Seetaben to send goods of Rs. 2,000
(e) Interest of Rs. 500 is due to be received from Tandan.
(f)Sent goods to Seeta as per order.
​

Answer 1

Answer:

(16)

To which account, the following transactions will be debited and credited in the

books of Sachin ? Describe with reason.

(a) Rs. 50,000 brought in cash started business

(b) Purchased goods of Rs. 8,000 from Tarun and directly sold to Rashmika for

Rs. 10,000

(c)Goods of Rs. 500 are destroyed by fire. Insurance company accepted a claim

of Rs. 400.

(d) Received an order from Seetaben to send goods of Rs. 2,000

(e) Interest of Rs. 500 is due to be received from Tandan.

(f)Sent goods to Seeta as per order.

​

Explanation:

From the following transactions, state the nature of accounts and state which account will be debited and which account will be credited :

1. Sahdev started business with cash Rs. 5,00,000.

2. Purchased goods for cash Rs. 20,000.

3. Purchased goods from Raghubir on credit for Rs.25,000.

4. Purchased furniture from Fancy Furniture House for Rs.1,50,000 on credit.

5. Sold goods for cash R. 30,000.

6. Sold goods to Yuvraj on credit for Rs. 50,000.

7. Cash paid to Raghubir Rs. 20,000.

8. Cash received from Yuvraj Rs. 15,000.

9. Paid rent Rs. 10,000

Answer 2

Answer:

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