Question

gopal start business with cash 20000

Answer 1

cash a/c dr 20000
to capital a/c 20000

Answer 2

Capital Account

Explanation:

                             Books of (----Limited)

                                  Journal entry

Date        Account Title and Explanation     Debit   Credit

              Cash                      A\c Dr.              20,000

                 To Capital                           A\c                 20,000

            (Being started business with cash 20,000)

Note: Gopal stated business and invest cash amount of 20,000 as the capital in the firm.Capital account will be debit and cash enter into business, so cash will be debit.

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