Question

Journalise the following transactions in the books of Hiralal General stores
2021 10
Nov
1 Started business with cash Rs 1,00,000 and goods Rs 50,000
5 Deposited Rs 10,000 in State Bank of India.
8 Received commission Rs 2,000.
15 Purchased furniture of Rs 35,000 at 10% GST from Manish furniture Mart.
20 Cash Sales Rs 12,000

Answer 1

Answer:

Cash a/c        Dr      100000

Purchase a/c Dr        50000

       To Capital a/c                      150000

(Being capital brought in cash ang goods)

Explanation:

Cash and goods are coming in business so they are real accounts

Capital a/c is a personal a/c