Question

21. From the following particulars prepare the proprietor's Capital Account:
2015
April 1 Started business with cash 75,000
June 17 Withdrew from business for personal use 10000
July 31
Life insurance premium paid 13,000
Sep 25
Sold personal investment worth 15,000 at 5% profit and brought into business
same date.
Dec31 Loss for year 5,000​

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Answer 1

Answer:

here u have to pass entry in partners capital account then on the dr side pass the entry of cash with 75000 . on credit side add drawings 10000 and loss of 500 then find the balancing figure .