Question

From the following information, state the nature of account and state which account will be debited and
which will be credited.
of
1. Started business with a capital of 50,00,000.
2. Wages and salaries paid 50,000
3. Rent received 2,00,000
4. Purchased goods on credit 9,00,000
5. Sold goods for 8,16,000 and received payment in cheque.​

Answer 1

Answer:

1. Cash a/c...dr.

to capital a/ c (5000000).

2.wages a/ c ...dr.

salary a/ c ..dr.

to cash a/c(50000)

3 .cash a/c..dr.

to rent a/c(200000)

Purchase a/c...dr.

to credit.900000)

bank a/c ...dr.

to sales a/ c(816000)

Answer 2

Answer:

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