Nandini Kapoor strated Universal Business Solutions by bringing in cash of Rs. 3,00,000.
Answers
In the books of Nandhini Kapoor Universal business solutions :
Cash A/C. Dr. Rs.3,00,000
To Capital A/C. Rs.3,00,000
(Being capital brought in the form of cash)
Answer:
In the books of Nandhini Kapoor Universal business solutions :
Cash A/C. Dr. Rs.3,00,000
To Capital A/C. Rs.3,00,000
(Being capital brought in the form of cash)
Explanation:
A business transaction is journalized when it is entered into the accounting records.
Only the double-entry accounting system is covered by this task. The following lists the steps involved in journaling. Entries to the main ledger or subsidiary ledgers may be the consequence of journalizing. When a high-volume transaction that management has chosen to summarise separately from the general ledger involves an entry, the subsidiary ledger is created.
This step involves not just entering the transaction in the accounting system, but also documenting it sufficiently so that someone reviewing the entry later will understand why it was created. Ideally, the entry should note the impacted accounts, the debits and credits entered, a journal entry number, and a narrative comment.
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