What would be the correct journal entry for commenced business with a capital of rs. 1 00 000?
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cash account dr 100000
to share capital account 100000
(Being cash deposited by owner into business)
I HOPE IT WILL HELP YOU.
to share capital account 100000
(Being cash deposited by owner into business)
I HOPE IT WILL HELP YOU.
Answered by
4
Answer:
Cash/Bank A/c Dr
To Capital A/c.
Explanation:
Capital can be introduced into a business in two ways either through the cash or bank(Cheque). Which ever is used, you must credit the Capital account and debit the business cash or bank account.
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