Question

Pass the journal entries in the books of Soumya enterprises and prepare the following ledger accounts.
Capital A/c , Mankar Com. Co A/c , Rahul traders , Sammy , gaggy , commission , interest.

November , 2020
1. Soumya commenced the business with cash Rs. 55,000.

2. bought computer for Rs. 22,000 from Mankar Computer Co.

3. bought goods of Rs. 20000 from Rahul Traders

4. Took loan of Rs. 25,000 from Bank of patiala

5. sold goods of Rs. 32,000 to Sammy

6. got commission of Rs. 2500 from Gaggy

7. received interest of Rs. 600​

Answer 1

Explanation:

A Bank's Balance Sheet. A balance sheet is an accounting tool that lists assets and liabilities. ... The net worth is the asset value minus how much is owed (the liability). A bank's balance sheet operates in much the same way. A bank's net worth is also referred to as bank capital.

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