Question

ILLUSTRATION 16.
From the following transaction, state the nature of account and state which account will be debited and which account will be credited
1. Sahdev started business with cash 5,00,000.
2. Purchased goods for cash 20,000.
3. Purchased goods from Raghubir on credit for 25,000.
4. Purchased furniture from Fancy Furniture House for 1,50,000 on credit.
5. Sold goods for cash 30,000.
6. Sold goods to Yuvraj on credit for 50,000.
7. Cash paid to Raghubir 320,000.
8. Cash received from Yuvraj 15,000.
9. Paid rent 10,000.​

Answer 1

Answer:

1.cash a/c. dr 5,00,000

To capital a/c 5,00,000

2.purchase a/c dr 20,000

To cash a/c. 20,000

3.purchase a/c dr 25,000

ToRaghubir a/c 25,000

4.Furniture a/c dr 1,50,000

To fancy furniture House a/c 1,50,000

5.cash a/c dr 30,000

To sale a/c. 30,000

6.Yuvraj a/c dr 50,000

To sale a/c. 50,000

7.Raghubir a/c dr 3,20,000

To cash a/c. 3,20,000

8.cash a/c dr 15,000

To Yuvraj a/c. 15,000

9.Rent a/c dr 10,000

To cash a/c 10,000

Answer 2

Explanation:

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