Question

Vishnu Started with cash 100000
parchesed good for cash 60000
parchesed good on cridit rs 550000
sold book for cashs 1000
bot farnicher on credit 40000
paid cash to crediters rs 20000

Answer 1

Answer:

Cash A/c Dr. 100000

To Capital A/c 100000

(Being commenced business with cash)

Purchases A/c Dr. 60000

To cash A/c 60000

( Being cash purchases )

Purchases A/c Dr. 550000

To Creditors A/c 550000

( Being credit purchases )

Cash A/c Dr. 1000

To Sales A/c 1000

( Being cash sales made )

Furniture A/c Dr. 40000

To Creditors A/c 40000

( Being bought furniture on credit )

Creditors A/c Dr. 20000

To Cash A/c 20000

( Being cash paid to creditor )

Explanation:

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