To which account, the following transactions will be debited and credited in the
books of Ganesh? Describe with reason:
(1) 75,000 brought in cash and commenced business.
(2) Incurred Puja expenses of 2,000.
(3) Brought personal furniture of 10,000.
(4) Deposited 30,000 to the State Bank of India.
(5) Obtained loan of 30,000 from wife.
(6) Purchase is made of 20,000 and amount is paid by cheque.
(7) Sales are made of 42,000 and amount is received by cheque.
(8) Withdrawn 22,000 from Bank.
(9) * 2,000 paid for insurance premium by cheque.
(10) 3,500 received for brokerage.
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