Question

business started with cash @of 6000

Answer 1

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

analyse the question- no accounts affected

• Cash A/c - real account , in this case cash comes into the business therefore its debited

• Capital is a personal A/c , where owner is the giver therefore its credited.

Journal entry

Cash A/c Dr 6000

To Capital A/c 6000

(being started business with cash )

Hope its useful..!!