Journalise the following transactions in the books of Ruma: Started business with cash 80,000 Purchased goods from Rahul 50,000
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Journalise the following transactions in the books of Gaurav: Gaurav started business introducing capital in cash ₹ 2,00,000 and cheque ₹ 4,00,000
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Journalise the following transactions in the books of Dhruv: Commenced business with cash ₹ 1,00,000 and cheque ₹ 7,00,000.
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Enter the following transactions in the Journal of Tarun: Tarun commenced business with cash 2,00,000
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Journalise the following transactions in the books of Alok Enterprises: Alok started business by depositing cheque from his savings account
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Journalise the following transactions: Kamal started business with cash 1,00,000 Kamal introduced additional capital by cheque 50,000
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Analyse the following transactions, state the nature of accounts and state which account will be debited and which account will be credited:
Solution:- i) Furniture Cash Debit Credit 75,000 75,000 ii) Purchase Cash Debit Credit 55,000 55,000 iii) Cash Sale Debit Credit 35,000 35,000 iv) Om Sales Debit Credit 60,000 60,000 v) Bank Cash Debit Credit 70,000 70,000 vi) Cheque in Hand…
From the following transactions, state the nature of account and state which account will be debited and which account will be credited:
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…
State which of the following accounts will show debit balance and which will show credit balance:
Solution:- Account Name Balance 1) Carriage Debit 2) Machinery Debit 3) Sales Credit 4) Cash Debit 5) Anita (Customer) Debit 6) Sales Returns Debit 7) Purchases Debit 8) Bad Debts Debit 9) Discount Allowed Debit 10) Rent Debit 11) Commission…
Following is the list of various accounts. State which are asset, Liability, Capital, Revenue or Expense Accounts:
Solution:- Accounts Name Types 1) Machinery Assets 2) Bank Assets 3) Sales Revenue 4) Purchases Expenses 5) Unsold Stock Assets 6) Bank Overdraft Liability 7) Harman (Customer) Assets 8) Cash Assets 9) Interest Received Revenue 10) Somesh (Proprietor) Capital