From the following transaction state the nature of accounts and state which account will be debited or credited
Mr.mohan started business with ruppees 5,00,000 in cash
Answers
Answered by
3
Answer:
Cash a/c...................... Dr ₹5,00,000
To Capital a/c. ₹5,00,000
(Being business started with cash)
Explanation:
Cash a/c is a real ac. So as per golden rule, cash is debited.
Capital ac is a personal ac and he is giving money to the business so as per golden rule,
it is credited.
Similar questions