Question

personal car introduced in the business 300000​

Answer 1

Answer:

Explanation:

IF PERSONAL CAR INTRDUCED IN TBE BUSINESS, IT WILL BE TREATED AS CAPITAL INTRODUCED AND THE ENTRY WILL BE

MOTOR VEHICLE A/C DR 3,00,000.00

   TO CAPITAL A/C                     3,00,000.00

(BEING PERSONAL CAR INTRODUCED IN THE BUSINSS)