Question

Balan started business by investing cash Ra. 50000
He bought goods of Rs. 4000and furniture of Rs. 500 what is the journal entry for this?

Answer 1

a) cash A/c ... Dr 50000

To capital A/c 50000

b) purchases A/c .... Dr 4000

furniture A/c .... Dr 500

To cash A/c

Answer 2

Answer:

balan started bussiness by investing cash Rs. 50,000 he brought goods of Rs. 4,000 and furniture of Rs. 500 1985 purchased building for Rs. 10,000 purchase goods for cash Rs. 3,000 purchase goods on credit Rs. 2,500 paid cartage Rs. 20