Question

Started business with cash 4800000 20000000 in bank account and. Furniture of 80000 bank loan of 20000 due to rakesh 7000 and due from aman 6500

Answer 1

Answer:

Entries will be as under:-

Explanation:

SR DATE ENTRY DR CR

       CASH A/C DR 48,00,000.00  

       BANK A/C DR 200,00,000.00  

      FURNITURE A/C DR 80,000.00 ,

      AMAN A/C DR 6,500.00  

             TO BANK LOAN  A/C  20,000.00

              TO RAKESH A/C             7,000.00

            TO CAPITAL A/C   248,59,500.00 (balancing figures)

 (Being Started business with cash 4800000 20000000 in bank account and. Furniture of 80000 bank loan of 20000 due to Rakesh 7000 and due from Aman 6500)