3. Prepare the general entries in book of XLtd.
a) Started business with 1,00,000rs.
b) Goods sold to harish 50,000rs.
c) Received 49,000rs from harish in full settlement.
d) Rent outstanding 1,000rs.
e) Prepaid insurance 500rs.
f) Depreciation charged on building 2,000rs
g) Deposited 10,000rs into bank.
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a. cash A/c Dr. 1,00,000 To capital A/c 1,00,000 b. harish's A/c Dr. 50,000 To sales A/c 50,000 c. cash A/c Dr. 49,000 discount A/c Dr. 1000 To harish's A/c 50,000. d. Rent A/c Dr. 1,000 To Rent outstanding A/c 1,000 e. prepaid insurance Dr. 500 To insurance A/c 500 f. Depreciation A/c Dr. 2,000 To building A/c 2,000 g. bank A/c Dr. 10,000 To cash A/c 10,000.
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