Question

Journal entry
Started business with cash ₹1,00,000,Bank balance ₹2,00,000 and Building ₹2,00,000​

Answer 1

Explanation:

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

To owner's capital a/c 1,00,000

(For started business with

cash Rs.1,00,000)

By Bank a/c dr. 2,00,000

By building a/c dr. 2,00,000

To opening balance a/c 4,00,000

(For bank balance Rs.2,00,000

&buildings.2,00,000)