Question

(i) Started business with cash * 60,000 and goods * 30,000
(ii) Purchased goods for cash * 40,000 and on credit * 25,000
(iii) Goods costing 48,000 sold at a profit of 33 %. 3/4 of the payment
received in cash
(iv) Goods costing 20,000 sol.d at a loss of 5% out of which * 12,000
received in cash.
(v) Paid Rent 4,000 and Salaries 6,000
(vi) Received cash from Debtors 15,000
(vii) Paid Telephone Bill amounting to 800
(viii) Received Commission * 1,000​

Answer 1

Answer:

Explanation:

cash a/c Dr

goods a/c Dr

to capital a/c

2

goods a/c Dr

to cash a/c