Question

Journalise the following transactions in the books of Vijay
2015
Commenced business with cash * 60 000 and goods worth *20,000​

Answer 1

Answer:

cash A/c. dr 60,000

purchases A/c. dr. 20,000

to capital A/c. 80,000

(being business started with cash and goods)

Explanation:

As cash and goods are coming into the business, on basing of rule 'debit what comes in' we need to debit cash and purchases(goods) a/c's & credit capital a/c which is having credit balance

Answer 2

Answer:

goods purchases from gori shankar 22500 rupee