Question

ROHIT STARTED BUSINESS WITH CASH RUPESS 1000000, GOODS RUPEES 50000 AND FURNITURE RUPEES 150000. ENTRY

Answer 1

Cash A/c    Dr            10,00,000
stock A/c  Dr                   50,000
furniture A/c      Dr        1,50,000
       To capital                                     12,00,000
(being rohit started business )

Answer 2

Rohit started business with cash ₹50,000.