Question

Mr x started a buisness with cash 50000, machinery 80000 and furniture 20000

Answer 1

Answer:

cash a/c dr...

machinery a/c dr...

furniture a/c dr...

To capital a/c..

Explanation:when owner brings anything to start a business or to run it then that is called capital which creates liability to the firm

Answer 2

Accounting Equation:-

Asset=Liability+Capital

50,000+80,000+20,000=0+1,50,000

Journal Entry:-

                                              Debit              Credit

Cash A/c             ...Dr.          50,000

machinery A/c   ...Dr.           80,000

furniture  A/c     ...Dr.           20,000

             to capital A/c                                 1,50,000