answer the question please
Answers
Answer:
In the question simple books of entries are required
Explanation:
Cash A/c Dr 50000.00
To Capital A/c 50000.00
(Being business started in cash )
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Purchases A/c Dr 30000.00
To cash Rs. 30000.00
(being purchases in cash)
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Purchases A/c Dr 20000.00
To Creditors A/c 20000.00
(being purchases on credit)
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Cash A/c Dr . 12000.00
To Sales A/c 12000.00
(being goods of Rs.10000.00 sold for Rs.12000.000
Note:- presumed that good sold in cash not on credit . If the goods are sold on credit the cash a/c will be replaced with the Debtor a/c Rs.12000.00
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Furniture A/c Dr 2000.00
To supplier's A/.c 2000.00
(being furniture purchased on credit)
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Creditors' A/c Dr 15000.00
To cash 15000.00
(being cash paid to creditors)