Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare the journal by recording the following transactions 3-Dec Mrs. Vinita started business by transferring amount from her saving account to the business bank account

Prepare the journal by recording the following transactions

  

3-Dec Mrs. Vinita started business by transferring amount from her saving account to the business bank account Rs500000 5-Dec She Purchased godown to stock goods worth Rs 100000 7-Dec She purchased goods for sale, costing her Rs 300000 8-Dec She sold off the entire goods at Rs 500000, credit sales 10-Dec She paid salary to employees Rs 20000 through bank account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

JOURNAL TRANSACTIONS Journal Entries 3Dec Bank Account Dr 500000 Capital Account Cr 50... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cambridge IGCSE And O Level Accounting Coursebook

Authors: Catherine Coucom

2nd Edition

1316502775, 978-1316502778

More Books

Students also viewed these Accounting questions

Question

Illustrate the systems approach of family therapy.

Answered: 1 week ago

Question

What kind of financial pressures can an LBO cause?

Answered: 1 week ago