Question

Cash goes out
Cash Alc
Activity- 1
From the following transactions find out
1) Two Aspects 2) Two Accounts
3) Classify the Accounts and Fill the following Tables
1) Started business with Cash 50,000.
Purchased Machinery on credit from Avinash 20,000.
Purchased goods 5,000 from Rahul on cash.
Sold goods to Anikett 6,000 on credit.
Paid Salary 1,000.
6) Sold old Tables for * 3,000.
Solution:
2)​

Answer 1

cash goes out

cash a/c. Cr. real account

Your journal entry will be:

1)cash a/c. Dr. 50000

to capital a/c. 50000

(being business started with cash)

cash a/c real account

capital a/c. personal account

2) machinery a/c. Dr. 20000

to Avinash a/c. 20000

(Being machinery purchase from Avinash on credit)

machinery a/c. real account

Avinash a/c. personal account

3) purchase a/c. Dr. 5000

to Rahul a/c. 5000

(being goods purchased from Rahul on cash)

purchase a/c. nominal account

Rahul a/c personal account

4) Aniket a/c. Dr. 6000

to sales a/c. 6000

(being goods sold to Aniket)

Aniket a/c. personal account

sales a/c. nominal account

5) salary a/c. Dr. 1000

to cash a/c. 1000

(Being salary paid)

salary a/c. nominal account

cash a/c. real account

6) cash a/c Dr. 3000

to table a/c. 3000

(Being old table sold on cash)

cash a/c. real account

table a/c. real account.