Question

Hashim khan the owner invested es 57500 cash and rs 32500 of photography equipment in the business​

Answer 1

Explanation:

cash a/c dr. 57500

to capital 57500

equipment a/c dr. 32500

to cash 32500

mark as brainlyst

Answer 2

In this question, we are asked to pass the necessary journal entry for the following.

Investment A/C DR 57,500

Equipment A/C DR 32,500

                     To Cash A/C 90,000

(Being investment done and equipment purchased)

• As in the given question it was not stated that if the investment and purchase have been done by cash or credit, so it is assumed that it has been done through cash.
• Investment is an asset, and it is being purchased so it is increasing, showing it will be debited.
• Equipment is also an asset, and it is being purchased for business purposes so it is increasing, and it will be debited.
• Cash is also an asset; payment has been done through that method and is decreasing, so it will be credited.

CORRECT QUESTION

Pass necessary journal entry for the following transaction-

Hashim khan the owner invested rs 57500 cash and rs 32500 of photography equipment in the business​.

PROJECT CODE #SPJ2