Question

Rohit has the following transaction commenced business with cash 150000 purchased machinery on credit ​

Answer 1

Answer:

1. cash A/c. Dr. 150000

To Capital A/c. 150000

2. Machinery A/c. Dr. ₹

To (XYZ) A/c. ₹

DEBIT what comes inn and CREDIT what goes out.

Cash is coming into business so it will become capital.

In place of XYZ you have to write the name of a person from whom you have bought machinery or company's name

hope this will help you ...

Answer 2

Answer:

Cash A/c Dr. 150000

    To Capital A/c 150000

Machine A/c Dr.

    To Vendor A/c

Explanation: