Question

Commenced a business with cash RS. 10000, Goods RS.10000 and Furniture of RS. 5000.​

Answer 1

Answer:

Your answer is attached below

Explanation:

Cash 10000, Goods 10000 and Furniture 5000 is called capital for starting a new business

Answer 2

The answer to the following question is below.

Explanation:

Given:

Cash = 10,000

Goods = 10,000

Furniture =  5,000        

                                Journal Entry

                           In the Books of (-----Ltd)

Date                        Particular                        Debit     Credit

            Cash                          a/c         Dr     10,000

            Stock                         a/c         Dr     10,000

            Furniture                   a/c         Dr     5,000

                To Capital              a/c                                  25,000

         (Being started business with cash,stock,furniture. )

Capital = (10,000 + 10,000 + 5,000) = 25,000

The capital account is a liability for business this amount need to return to investor one day.

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