Question

Business started with rs.500000 and paid rs.400000 into bank.write journal entry

Answer 1

Answer:

Bank a/c dr. 400000

other assets a/c dr. (if any amount)

cash a/c dr. (if any amount)

to Capital a/c. 500000

Explanation:

in above entry rest of amount will be debited in cas or other assets.

bank, cash etc. are assets, it increases by debiting

in other hand capital introduced is liability as we take loans so it will be credited.