To which account the following transaction will be debited and credited in the books of Nilima.? Describe with reason
Answers
In the Books Of Nilima
Explanation:
1. Cash comes in business(Capital) ─ Owner gave cash to Business for startup.
Cash A/c Debit ─ Capital A/c Credit
2. Cash comes in ─ Bowered Cash from Jasleen.
Cash A/c Debit ─ Jasleen A/c Credit
3. Bank as received cash ─ Cash goes out from business.
Bank A/c Debit ─ Cash A/c Credit
4. Asset comes in ─ purchase a Computer.
Computer A/c Debit ─ Cash A/c Credit
5. Stationery expense ─ paid for Stationery Expense.
Stationery A/c Debit ─ Cash A/c Credit
6. Cash goes out ─ Purchase goods.
Purchase A/c Debit ─ Cash A/c Credit
7. Comes goes out ─ Purchase Goods from Raman on Credit.
Purchase A/c Debit ─ Raman A/c Credit
8. Cash comes in business ─ Goods sold Sales made.
Cash A/c Debit ─ Sales A/c Credit
9. Sales made. Nila is receiver ─ Not through cash. goods goes out.
Nila A/c Debit ─ Sales A/c Credit
10. Raman is person. Raman is receiver ─ Purchase returned. goods goes out.
Raman A/c debit ─ Purchase returned A/c credit
11. Sales returned. Goods comes in ─ Nila is person. Nila is giver.
Sales returned A/c Debit ─ Nila A/c Credit
12. Carriage is Expense ─ Cash goes out from business
carriage A/c Debit ─ cash A/c credit
13. Goods Lost by fire ─ purchase of goods lost.
Goods lost by fire A/c Debit ─ purchase A/c credit
14. Cash comes in business Commission is income.
Cash A/c Debit ─ Commission A/c Credit
15. Salary is an expenses ─ Cash goes out from business.
Salary A/c Debit ─ Cash A/c Credit
Pls refer to the attached pic
Answer:
go through the above attachment !!
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