Question

Commenced business with Cash Rs 50000, furniture rs 10000,goods RS 15000, borrowed money from patil RS 12000

Answer 1

Answer:

cash a/c 50000

to capital a/c 50000

furniture a/c 10000

to cash a/c 10000

purchase a/c 15000

to cash A/C 15000

CASH A/C 12000

TO PATIL A/C 12000