Question

. He started business with capital of Rs. 15,000 and Land worth Rs. 10,000,
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Answer 1

Answer:

Cash A/c Dr : ₹15000

Land A/c Dr : ₹10000

To Capital A/c : ₹25000

Answer 2

Answer:

cash A/C                15000(dr)

land A/C                 10000(dr)

      To capital A/C                      25000(cr)

Capital refers to the non-human assets held by a person, company, or economy which can be used to generate income. This is different from human capital, which refers to the production value of the skills and knowledge of people working for the organization. In the day-to-day workings of a business, capital is the collective term or way for resources that produce value for the business to cover short and long-term operating costs.

              The land is a fixed asset that comes under the heading asset in the balance sheet. The land is a long-term fixed asset that is not depreciated.

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