Question

State the types of two accounts involved in the following transaction.(10) 1) Commenced business with Cash Rs.70,000 2) Deposited Cash into Bank of India Rs.10,000 3) Withdraw cash from Bank of India for Office use Rs.5,500 4) Purchased goods for cash Rs.5,000 5) Purchased goods on credit from Kiran stores Rs.6,000 6) Sold goods for cash Rs.3,000 7) Sold goods to Rohini Rs.9,000 8) Received Dividend Rs.4,500 9) paid Audit fees Rs.1,000 10) Paid to Kiran by cheque of Bank of India Rs. 4,000
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Answer 1

answer in attachment

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Answer 2

Explanation:

with Cash Rs.70,000 2) Deposited Cash into Bank of India Rs.10,000 3) Withdraw cash from Bank of India for Office use Rs.5,500 4) Purchased goods for cash Rs.5,000 5) Purchased goods on credit from Kiran stores Rs.6,000 6) Sold goods for cash Rs.3,000 7) Sold goods to Rohini