Question

Q 1 journalize the following transaction in the book of kishor general store. 1) kishor started business with cash Rs 2,00,000, bank balance Rs 50,000 goods worth Rs 40,000​

Answer 1

Answer:

Rs 290000 is the overall money he have.

Answer 2

The journal entry n the book of Kishor general store when the business has just started.

The entry can be done in two ways by debiting all the amount it has started with and crediting it to the capital account.

The first way is,

Cash account dr. Rs 2,00,000

bank account dr.  Rs 50,000

goods account dr. Rs 40,000

     to capital account  Rs. 2,90,000

The other way is,

Cash account dr. Rs. 2,90,000

 to capital account rs. 2,90,000