Question

a) started business with cash of 50,000
b) goods purchased in cash 15,000
c) purchased some furniture in cash 2,000
d) purchase stationery 2,500
e) sold goods in cash 1,500
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Answer 1

Answer:

a) Cash A/c Dr

To capital A/c

[Being started business with cash]

b)Purchases A/c Dr

To cash A/c

[Being goods purchased in cash]

c) Furniture A/c Dr

To cash A/c

[Being furniture purchased for cash]

d) Stationary A/c Dr

To cash A/c

[Being purchased furniture]

e) Cash A/c Dr

To sales A/c

[Being goods sold for cash]