Question

Murugan commenced business with cash ₹80000

Answer 1

Explanation:

capital A/C dr 80000

To cash A/C 80000

Answer 2

Commenced business

Explanation:

                           Books of ( Murugan Limited)

                                     Journal Entry

Date        Account Title And Explanation      Debit    Credit

                  Cash                   A/c Dr                80,000

                     To Capital        A/c                                     80,000

                       (Being business start with cash)

Explanation: Money invested in business called "Capital", Capital Account must be credit.

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