Muskaan started business with cash ₹ 3,00,000, Stock ₹ 5,00,000 and building ₹ 25,00,000
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Surekha started business with cash ₹ 5,00,000 Pass Journal entries for the following transactions:
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Tejvir started business with cash ₹ 5,00,000. Pass Journal entries for the following transactions:
Solution:- Note:- (g) expenses incurred against assets purchased or manufactured are debited to the asset A Thus no wages account would be opened for wages paid to the furniture. Expenses account are opened when goods are purchased and for business…
Aakash started business with cash ₹ 3,00,000; Bank deposit of ₹ 40,00,000 and furniture ₹ 4,00,000.
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Pankaj started business with cash ₹ 2,00,000 and Bank ₹ 8,00,000. Bought a machinery for ₹ 25,00,000 by making a down-payment of 10%.
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Following balances existed in the books of M/s Anand stores as on 1st April, 2022:
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Interest due but not received ₹ 10,000. Salaries due to staff ₹ 50,000. Out of the rent paid this year, ₹ 5,000 is for the next year.
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Paid repairing charges on existing machineries 1,000 Pass necessary Journal entries for the following transactions:
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Goods withdrawn by owner for personal use 1000 Pass necessary Journal entries for the following transactions:
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Deposited in bank for opening a Current Account ₹ 10000 Pass the necessary Journal entries for the following transactions:
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