From the following transactions, state the nature of account and state which account will be debited and which account will be credited:
From the following transactions, state the nature of account and state which account will be debited and which account will be credited:
S.N | Particualrs | ₹ |
1 | Kabir started business with cash | 5,00,000 |
2 | He purchased furniture for business | 1,00,000 |
3 | Purchased goods from Anshul | 30,000 |
4 | Paid to his creditor, Anshul | 10,000 |
5 | Paid salary | 5,000 |
6 | Paid rent | 2,500 |
7 | Received interest | 500 |
Anurag Pathak Changed status to publish September 18, 2023
Solution:-
i) | Cash Capital | Debit Credit | 5,00,000 5,00,000 |
(ii) | Furniture Cash | Debit Credit | 1,00,000 1,00,000 |
(iii) | Purchase Anshul | Debit Credit | 30,000 30,000 |
(iv) | Anshul Cash | Debit Credit | 10,000 10,000 |
(v) | Salary Cash | Debit Credit | 5000 5000 |
(vi) | Rent Cash | Debit Credit | 2500 2500 |
(vii) | Cash Interest | Debit Credit | 500 500 |
Anurag Pathak Changed status to publish September 18, 2023