Question

business started with cash rs 200000 goods worth rs 100000 and computer rs 100000
what is journel entry

Answer 1

Answer:

Anything which owner brings to the business whenever it is cash , debtor , stock or any liabilities it is termed as capital. So basically it is the owner's account in the business. Every transaction performed by the owner will b through capital only.

Now following the golden rules of accounting : Dr what comes in , cash and bank is what owner has brought into business so it will b debited.

Capital acc will b credited as it will b business's liability to pay the partner later on. So final entry will be.

Cash ac Dr.800000

Bank ac Dr.200000

To capital acc 10000000

Step-by-step explanation: