Question

PRACTICAL QUESTIONS
1 Analyse the following transactions according to the Traditional Appro
(i) Mahesh started his business with cash.
(ii) Purchased Furniture.
(iii) Purchased goods for cash.
(iv) Purchased goods from Ram on credit.
(v) Sold goods for cash.
(vi) Sold goods to Satyam on credit.
(vii) Deposited into Bank.
viii) Paid rent by cheque.​

Answer 1

Answer:

1)casha/c Dr

To banka/c

2)purchase a/cDr

To furniture a/c

3)purchase a/cDr

To cash a/c

4)purchase a/cDr

To ram a/c

5)cash a/c Dr

To sold a/c

6)satyam a/cDr

To sold a/c

7)Bank a/cDr

To cash a/c

8)Rent a/c Dr

To bank a/c