Question

Pass Journal entries for the following

transactions: 2019 Jan

1. Commenced Business with cash Rs. 80,000

2. Bought Building for cash Rs. 30,000

3. Goods purchased from Prateek Rs. 20, 000

4. Deposited into bank by opening a current account Rs. 50,000​

Answer 1

Answer:

date: Jan 2019 debit (Rs). credit ( Rs)

1. Cash A/c Dr. 80000

To Capital A/c. 80000

( being commenced

business with capital)

2. Building A/c Dr. 30000

To cash A/c. 30000

(being building

bought for cash)

3. Purchases A/c Dr. 20000

To prateek A/c 20000

( being goods

purchased from prateek)

4. Bank A/c Dr. 50000

To cash A/c 50000

( being cash

deposited into bank)