Question

Prepare cash account from the following details.
2019
June 1 Commenced business with cash 50,000
June 3 Purchased goods for cash 20,000
June 4 Sold goods for cash 40,000 costing 30,000
June 5 Rent paid in Cash 500
June 6 Bought furniture for Rs. 5000 on credit
June 8 Rent outstanding 100​

Answer 1

Answer:

cash account

debit side:

capital 50000

sales 40000

credit side

purchase 20000

rent 500