Question

Journalise the following transcatiions in the books of rajkumar seller 2019 1. Rajkumar started business with cash 200000 building 200000 and borrowed loan from rakesh 50000​

Answer 1

Journal entry in the books of Rajkumar Seller 2019

Explanation:-

1)

Cash A/c Dr.2,00,000

Cash A/c Dr.2,00,000Building A/c Dr. 2,00,000

Cash A/c Dr.2,00,000Building A/c Dr. 2,00,000 To Rajkumar's Capital A/c 4,00,000

Cash A/c Dr.2,00,000Building A/c Dr. 2,00,000 To Rajkumar's Capital A/c 4,00,0002)

Cash A/c Dr.2,00,000Building A/c Dr. 2,00,000 To Rajkumar's Capital A/c 4,00,0002) Cash A/c Dr.50,000

Cash A/c Dr.2,00,000Building A/c Dr. 2,00,000 To Rajkumar's Capital A/c 4,00,0002) Cash A/c Dr.50,000 To Rakesh's Loan A/c 50,000

We can also make a combined entry of both the entries above, it will look like:-

Cash A/c Dr. 2,50,000

Building A/c Dr. 2,00,000

To Rajkumar's Capital A/c. 4,00,000

To Rakesh's Loan A/c 50,000

As the rules states:

•Debit what comes in

Therefore cash and building are debited

•Credit (Increase in Capital or increase in Liabilities)

Therefore rajkumar's capital and rakesh's loan are credited.

Answer 2

Answer:

Journalise the following transcatiions in the books of rajkumar seller 2019 1. Rajkumar started business with cash 200000 building 200000 and borrowed loan from rakesh 50000