Q:2
Pass Journal Entries?
a) Ram started business with cash Rs. 50,000
b) Purchased Goods Rs. 10,000 for Cash.
c) Sold Goods to Seeta for Rs. 55,000.
d) Withdraw cash from Bank for personal use Rs. 10,000
Plz answer my question
Answers
Answered by
1
Withdraw cash from Bank for personal use Rs. 10,000
Answered by
0
Explanation:
ANSWER:
S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash
45,000
=
45,000
45,000
=
45,000
(ii)
Opened a Bank Account with a deposit
– 4,500
+
4,500
Hope it helps...
=
40,500
+
4,500
=
45,000
(iii)
Bought goods from M/s. Sun & Co.
11,200
=
11,200
40,500
+
4,500
+
11,200
=
11,200
+
45,000
Total Assets
=
Cash + Bank + Stock
=
40,500 + 4,500 + 11,200
=
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
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