Question

Analyze the following transactions, state the nature of accounts and state which account will be debited and credited on the basis of Modern Classification of Accounts. (i) 01 Started business with cash ₹ 10,000. (ii) 04 Deposited cash into the bank for opening an Account ₹ 8,000. (iii) 07 Purchased goods for cash ₹ 5,000. (iv) 12 Cash received from Amit ₹ 4,000. (v) 16 Sold goods for cash ₹ 6,000. (vi) 20 Paid to Manish ₹ 3,000. (vii) 25 Withdraw cash for personal use ₹ 1,000. (viii) 31 Paid rent by cheque ₹ 2,000.
plzz tell the answer fast

Answer 1

Answer:

From the following transactions, state the titles of the accounts to be affected, types of the accounts and

the account to be debited and the account to be credited:

1. Ankur started business with cash

600000

2. Purchase goods for cash

80000

3. Paid salaries

10000

4. Sold goods to rohit on credit

60000

5. Office machine purchased for cash

12000

6. He took loan from bank

30000

7. He received commission

4,000

8.Postage paid

500

9.Paid rent

6000

10.Received cash from Rohit

60000

I want answer in a table format.