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What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.?
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What is the journal entry of 'commenced business with cash ₹500000 & g...
Cash a/c. Dr. 500000 Stock a/c. Dr. 100000 To capital a/c. 600000
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What is the journal entry of 'commenced business with cash ₹500000 & g...
Date: [Date of Commencement]
Account Title Debit Credit
Cash 500000
Capital 500000
Explanation:
The above journal entry records the commencement of the business with cash of ₹500000. The cash account is debited, indicating the inflow of cash, while the capital account is credited, indicating the owner's contribution to the business. This entry establishes the proprietorship of the business and records the initial investment by the owner.
Account Title Debit Credit
Cash 500000
Capital 500000
Explanation:
The above journal entry records the commencement of the business with cash of ₹500000. The cash account is debited, indicating the inflow of cash, while the capital account is credited, indicating the owner's contribution to the business. This entry establishes the proprietorship of the business and records the initial investment by the owner.
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What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.?
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What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.?.
What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the journal entry of 'commenced business with cash ₹500000 & goods ₹100000'.?.
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