From the following transactions, state the nature of accounts and state the accounts which will be debited and credited
From the following transactions, state the nature of accounts and state the accounts which will be debited and credited:
1. Ganesh started business with Cash ₹ 2,00,000.
2. Purchased goods for Cash ₹ 60,000.
3. Sold goods for Cash ₹ 75,000.
4. Purchased goods from Nakul on Credit for ₹ 80,000.
5. Sold goods to Bhushan on Credit for ₹ 50,000.
6. Paid Cash to Nakul ₹ 20,000.
7. Received Cash from Bhushan ₹ 10,000.
8. Paid Salary ₹ 20,000.
Anurag Pathak Answered question June 5, 2024
Solution:-
Solution:-
| S.N | Account | ₹ | Nature | Dr./Dr. |
| 1 | Cash A/c Capital A/c | 2,00,000 2,00,000 | Asset Capital | Debit Credit |
| 2 | Purchases A/c Cash A/c | 60,000 60,000 | Expenses Asset | Debit Credit |
| 3 | Cash A/c Sales A/c | 75,000 75,000 | Asset Revenue | Debit Credit |
| 4 | Purchases A/c Nakul A/c | 80,000 80,000 | Expenses Liability | Debit Credit |
| 5 | Bhushan A/c Sale A/c | 50,000 50,000 | Asset Revenue | Debit Credit |
| 6 | Nakul A/c Cash A/c | 20,000 20,000 | Liability Asset | Debit Credit |
| 7 | Cash A/c Bhushan A/c | 10,000 10,000 | Asset Asset | Debit Credit |
| 8 | Salary A/c Cash A/c | 20,000 20,000 | Expenses Asset | Debit Credit |
Anurag Pathak Changed status to publish June 5, 2024
