plz guys quickly tell me the answer of Aug 24 and 29
Answers
Answer:
ans 29 mohan received =10,000
he deposit into bank =6000
money left is = 4000
Answer:
refer to the attachment (I wrote it in excel myself and it's not a screenshot from a book or any other website)
Explanation:
On Aug 24, the business received a cheque from Kunal, who must be a debtor of the business (because he paid money to the business). So, our bank balance increases; increase in assets is debited, so we debit the bank account by Rs. 4,000.
Also, Kunal has paid the money now and therefore, he is no more a debtor of the business. This means he is no longer liable to pay Rs. 4,000 to the business. An asset of business is decrease; decrease in assets is credited. So, we credit Kunal's account by Rs. 4,000.
On Aug 29, Mohan (another debtor), paid us Rs. 10,000, out of which we deposited Rs. 6,000 in the bank. So, our bank balance increases by Rs. 6,000, so we debit the bank a/c by Rs. 6,000. We kept the remaining Rs. 4,000 with us in the form of cash, so we debit the cash a/c as well by Rs. 4,000 because since he gave the money to us, our assets increased.
Also, Mohan is no longer our debtor, our asset is decrease by Rs. 10,000. So, we credit Mohan's a/c by Rs. 10,000.
