Question

a) kumer started business with cash Rs3,00,000 b) he purchased furniture for cash Rs 40,000 c) he paid commission of Rs 4,000 d) he purchased goods from tarun on credit Rs 40,000 e) he sold goods ( costing Rs 20,000 ) for Rs 22,000 f) he gave loan to Anil Rs 5,000

Answer 1

A. Cash a c Dr.
To capital a c
B. Asset a c Dr.
To cash a c
C.commission a c Dr.
To cash a c
D. Purchases a c Dr.
To Tarun a c
E. Cash a c Dr.
To profit on sale of goods a c
To sales a c
F. Anil loan a c Dr.
To cash a c

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