Accountancy, asked by avni7893, 2 months ago

Personal Assets sold by owner. What could be journal entry? ​

Answers

Answered by cutebrainlystar
2

Before jumping to entry directly, lets understand the concept:

What is coming IN to Business: Furniture

What is going OUT of Business: Nothing (as cash is being paid from personal funds)

Meaning, owner has paid to third party to buy furniture and he gave that furniture to business.

Meaning, Business is getting furniture from owner. Owner is contributing something to business, means this is capital.

Answered by chitrarekhanagre
1

Answer:

Personal Assets sold by owner.

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