Question

journal entry of sold personal gold Worth Rs. 1,50,000 and brought the cash into business​

Answer 1

Answer:

To study the journal entries example is obviously a good way to get thorough knowledge of journal entries. Just learn the rules of double entries and to make some journal entries of simple purchase and sale transactions is not enough for becoming the master in accounting. You should know every type of transactions and journal entries. You also know how to pass the journal entry, what account will be debited and what account will be credited in this journal entry.

Answer 2

Answer:

journal entry:

cash a/c      dr    150000

   to capital a/c           150000

Explanation:

the journal entry of business includes what is bought into the firm, so the gold sold by the owner will not be entered.