Question

8. On the basis of narrations fill in the missing value:
_______ A/c Dr _______
To__________ A/c ______
(being the land purchased for 2500000, payment by cheque)

Answer 1

Answer:

Land A/c                                          Dr            2500000

    to Bank A/c                                                                          2500000

(being the land purchased for 2500000, payment by cheque)

Analysis as per modern accounting system:

Land - Assert - Increases - Debit

Bank - Assert - Decreases - Credit