Question

Mr.Akhay started business with cash rs.80000 what will be ournal entiry

Answer 1

                               Mr. Akshay Started Business

Account                                  Debit                     Credit

Cash                                      Rs.80000

Owners Equity (Capital)                                       Rs.80000

When an investor pays a company for shares of its stock, the typical journal entry is for the company to debit the cash account for the amount of cash received and to credit the contributed capital account.