Question

Write narration and journal entry.
Started business with Cash Rs 1,20,000, Bank balance Rs 50000, and furniture rs 60000.​

Answer 1

Answer:

cash AC..... Dr

To capital Ac..... Cr

(being cash using for starting a business)

3. Furniture Ac...... Dr

To cash AC........ Cr

( Being furniture comes into the business)

Explanation:

plz 2 entry mention properly the Bank balance deposited or withdraw and something else.

Answer 2

Cash a/c dr bank a/c dr furniture a/c dr to capital a/c (being cash,bank balance and furniture brought in and commenced business)