Question

Prepare cash ac, bank ac, purchase ac, sales ac, capital ac, and balance the same in the books of madanlal

Answer 1

Answer:

Cash A/c, Bank A/c, Purchase A/c, sales A/c & Capital accounts are prepared based on the following assumed Journal entries. Also, Ledger accounts are prepared and balanced accordingly

Explanation:

Journal Entries: Assumed  

01-12-2019 Started busines with cash 5000

02-12-2019 Cash Sales -1000

03-12-2019 Purchases goods and paid cheque -2000