Answer to Question #281898 in Accounting for Hoin

Question

1.Started business with cash rs . 12,00,000

2. Bought Furniture for cash rs . 100000

3. Bought Building for cash Rs. 102000

4 . Bought Good for rs. 140000 on credit from Ahmad .

5. Sold Goods for cash rs.150000

6. Paid salary for RS. 15000.

7. Paid commission for RS . 10000.

8. Received rent for RS . 4000

Recognize above business transactions .

Answer 1

1.Started business with cash rs . 12,00,000

The amount will be credited

2. Bought Furniture for cash rs . 100000

The amount will be debited

3. Bought Building for cash Rs. 102000

The amount will be debited

4 . Bought Good for rs. 140000 on credit from Ahmad .

The amount will be debited

5. Sold Goods for cash rs.150000

The amount will be credited

6. Paid salary for RS. 15000.

The amount will be debited

7. Paid commission for RS . 10000.

The amount will be debited

8. Received rent for RS . 4000

The amount would be credited