Question

6. Give journal entries for the following transactions :
2001
June 1 Kumar started business with cash Rs. 10,000
2 Paid Salary to the Staff Rs. 500
5. Sold goods to Krishna for Cash Rs. 5,000
15 Purchases from Ganesan Rs. 2,500
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Answer 1

Answer:

march cash account.......Dr 10,000

1 2001 To Kumar capital account

(being started business)

2 salaries account .......Dr

to cash account

(being salaries paid )

5 cash account......Dr

To sale account

(being sale goods to krishna) amount 5,000

15 cash account.....Dr

to Ganesan account

(being purchased Ganesan) amount -2,5000

Answer 2

Answer:

lalit kumar commenced business with cash