CA Foundation Exam  >  CA Foundation Questions  >  Journalise the following transactions. Jun 5t... Start Learning for Free
Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.?
Most Upvoted Answer
Journalise the following transactions. Jun 5th:Acquired the running bu...
Date | Particulars | Debit | Credit
--- | --- | --- | ---
June 5 | Stock of Goods | 15,000 |
June 5 | Cash | 25,000 |
June 5 | Furniture | 10,000 |
June 5 | Debtors | 7,000 |
June 5 | Machinery | 8,000 |
June 5 | Business Acquisition Account | 50,000 |

(Note: The Business Acquisition Account is debited to record the purchase of the business for cash.)
Community Answer
Journalise the following transactions. Jun 5th:Acquired the running bu...
5 Jun. stock of goods A/C. dr. 15000
Cash A/C. dr. 25000
Furniture A/C. dr. 10000
Debtors A/C. dr. 7000
Machinery A/C. dr. 8000
To Creditors A/C. 15000
To Cash A/C. 50000
Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.?
Question Description
Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.?.
Solutions for Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? defined & explained in the simplest way possible. Besides giving the explanation of Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.?, a detailed solution for Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? has been provided alongside types of Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? theory, EduRev gives you an ample number of questions to practice Journalise the following transactions. Jun 5th:Acquired the running business of Max, for cash 50, 000 by taking over the following assets and liabilities at values stated against them: Stock of Goods 15,000; Cash 25,000; Furniture 10,000; Debtors 7,000; Machinery 8,000 & Creditors 15,000.? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev