Question

Analyse the following transactions, state the nature of accounts and state which account will be debited and which account will be credited: 1. Deposited cash into bank for opening an account ₹ 50,000
2. Withdrew cash for personal use ₹ 10,000 3. Withdrew cash from bank for office use ₹ 20,000
4. Received a cheque from debtor Shyam ₹ 20,000
5. Paid to a creditor Mahesh by cheque ₹ 10,000
6. Paid interest on loan ₹ 12,000​

Answer 1

Explanation:

Analyse the following transactions, state the nature of accounts and state which account will be debited and which account will be credited: <br> {:(,,,"₹"),(1.,"Anuj started business with cash",,1","00","000),(2.,"Deposited cash into bank for opening an account",,50","000),(3.,"Withdrew cash for personal use",,5","000),(4.,"Withdrew cash from bank for office use",,10","000),(5.,"Received a cheque from debtor Shyam",,5","000),(6., "Deposited Shyam's cheque next day.",,),(7.,"Paid to a creditor Mahesh by cheque",,10","000),(8.,"Paid salary to staff",,20","000),(9.,"Paid rent by cheque",,6","000),(10.,"Paid interest on loan",,5","000):}