Question

Jan 1 Commenced business with cash ` 62,000
3 Goods purchased for cash ` 12,000
10 Goods sold for cash ` 10,000
12 Wages paid ` 4,000
25 Furniture purchased for cash ` 6,000
​

Answer 1

Answer:

1.cash ac ...62000

to capital ac..62000

3.purchase ac..12000

to cash ac...12000

10.cash ac...10000

to sales ac...10000

12.wages ac...4000

to cash ac...4000

25.furniture ac..6000

to cash ac...6000