Question

From the following transactions of Mr. Karim, determine the accounts to be debited and
credited by English Appraoch:
(1) Business commenced with cash 50,000 & furniture worth 10,000. P
(i) Bought goods from Ram for cash 10,000
(iii) Bought further goods from Kasim for 6,000
(iv) Paid rent * 6000.
(v) Cash deposited into bank * 20,000
(vi) Salary paid by cheque * 2,000
(vii) Cash sale to Rahim 16,000
(viii) Sale to Rahim for 5,000 on credit.
(ix) Cash withdrawn from bank 5,000 for personal use.​

Answer 1

Answer:

cash deposits into bank *20,000