Opened bank account with cheque from his saving account in journal entry solution
Answers
to capital a/c
Bank a/c. Dr.
To capital a/c
Explanation:
In this question the cash that is being deposited to the firm will be debited as the bank account will increase due to the income of money.
Since the physical cash is held by the firm at the point of depositing we will credit the cash account denoting the reduce when we deposit the cash into the bank this journal entry is an example of a simple transfer of funds from one account to another account.
In our case we have opened a bank account and depositing some cash causing the entry given above.
Learn more on journal entry
What is the journal entry for :cash received from bikramjeet on behalf of suhag 10,000
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Journal entry of opened a current account in bank of baroda by depositing Rs 75000.
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