Question

Mr. A started business as on April 1 , 2013 with a capital of Rs. 200000 . During the year, the following transactions took place : (i) Furniture purchased for Cash Rs. 25000 (ii) Purchased goods from B on credit Rs. 30000 .(iii) Paid to creditor, B ,Rs. 28000 in full settlement .(iv) Depreciation on Furniture provided at 12 % .​

Answer 1

Answer:

1 cash a/c dr

to capitala/c

2 furniture @/c dr

to cash a/c

3 purchases a/c dr

to b a/c

4 b a/c dr 30000

to discount received 200

to cash @/c 28000

5 depreciation a/c

to furniture a/c