Started a business with cash RS 50000 and bank balance RS 30000?

Question

Answer

Cash a/c Dr. 50000
bank a/c Dr. 30000
To capital a/c Cr. 80000

( Being started business with cash nd bank balance )

Answer

Cash a/c dr 50000
Bank a/c 30000
To capital a/c 80000

( Being started business).

Answer

Starting a Business with Cash and Bank Balance

Starting a business with cash and bank balance requires careful planning and management. Here are the steps to consider:

Step 1: Define your business idea

Step 2: Create a business plan

Develop a comprehensive business plan that outlines your goals, strategies, financial projections, and operational plans

Include a detailed budget that accounts for your cash and bank balance, as well as any other sources of funding

Seek professional advice from an accountant or business consultant to ensure your plan is realistic and achievable

Step 3: Register your business

Step 4: Set up your operations

Purchase any equipment, inventory, or supplies required to operate your business

Hire employees or contractors as needed and establish your management and operational processes

Step 5: Manage your cash and bank balance

Maintain accurate financial records and monitor your cash and bank balance regularly

Control your expenses and manage your cash flow to ensure you have sufficient funds to cover your costs and grow your business

Consider using accounting software or hiring a bookkeeper to help you manage your finances effectively

By following these steps and managing your cash and bank balance effectively, you can successfully start and grow your business.

Answer

Cash A/c Dr. 50000
Bank A/c Dr. 30000
To capital A/c 80000

(being buisness started)