Question

Question 9.
Open a ‘T’ shape Cash Account. Put the following transactions on the proper side and balance the account:
(i) Mohan started business with cash – ₹ 40,000
(ii) Purchased Goods – ₹ 20,000
(iii) Sold Goods – ₹ 24,000
(iv) Paid Rent – ₹ 400
(v) Paid salaries – ₹ 600
(vi) Drew for personal use – ₹ 1,000

Answer 1

Answer:

I. cash a/c dr. 40000

To capital a/c 40000

ii. purchase a/c dr. 20000

To cash a/c 20000

iii. cash a/c dr. 24000

To sales a/c 24000

iv. rent a/c dr. 400

To cash a/c 400

v. salary a/c dr. 600

To cash a/c 600

vi. drawing a/c dr. 1000

To cash a/c 1000

Answer 2

The trading account (T shape) of Cash is shown as below:

Explanation:

The T shape account is shown as:

Trading account is the account which holds the cash and securities, With this account, the investor could bought as well as sell the assets.

You can learn more from here about trading account:

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