Question

₹ 8. Open a T shape Cash Account with the following transactions: 40,000 (i) Mohan started business with cash 20,000 (ii) Purchased goods 24,000 (iii) Sold goods 400 (iv) Paid rent (U) Paid salaries 600 (vi) Drew for personal use 1,000 [(i) Debit side; (ii) Credit side; (iii) Debit side; (iv) Credit side; (u) Credit side; (vi) Credit side; Balance of Cash Account-* 42,000.​

Answer 1

Answer:

Open a ‘T’ shape Cash Account. Put the following transactions on the proper side and balance the account: (i) Mohan started business with cash – Rs. 40,000 (ii) Purchased Goods – Rs. 20,000 (iii) Sold Goods – Rs. 24,000 (iv) Paid Rent – Rs. 400 (v) Paid salaries – Rs. 600 (vi) Drew for personal use – Rs. 1,000Read more on Sarthaks.com - https://www.sarthaks.com/473843/open-shape-cash-account-put-the-following-transactions-the-proper-side-and-balance-account