Started business with cash of rs.2 00 000 furniture rs.50,000 , debtors rs 60,000 and creditors rs. 10,000 journal entry
Answers
Explanation:
S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash
45,000
=
45,000
45,000
=
45,000
(ii)
Opened a Bank Account with a deposit
– 4,500
+
4,500
=
40,500
+
4,500
=
45,000
(iii)
Bought goods from M/s. Sun & Co.
11,200
=
11,200
40,500
+
4,500
+
11,200
=
11,200
+
45,000
Total Assets
=
Cash + Bank + Stock
=
40,500 + 4,500 + 11,200
=
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
The answer to the following question is below.
Explanation:
Given:
Cash = 2,00,000
Debtors = 60,000
Creditor = 10,000
Furniture = 50,000
Journal Entry
In the Books of (-----Ltd)
Date Particular Debit Credit
Cash a/c Dr 2,00,000
Debtor a/c Dr 60,000
Furniture a/c Dr 50,000
To creditors a/c 10,000
To Capital a/c 3,00,000
(Being started business with cash,Debtor,creditor,furniture.)
Capital = (2,00,000 + 60,000 + 50,000 - 10,000) = 3,00,000
Learn more
brainly.in/question/2146118
#learnwithbrainly