Question

start a sole trading business by bringing sufficient cash. make 25 transactions of different nature(incl. compound entry) make journal entry, prepare ledger accounts and trial balance

this is my accounts project, due in two days. and I have absolutely no idea how to solve this. any and all help would be appreciated​

Answer 1

Explanation:

Debits Increase Cash

When dealing with an asset account, such as cash, a debit entry to the account will increase its balance, while a credit entry will decrease it. The entry to record the opening balance of cash always requires a debit entry equal to the amount of cash your company receives.