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give journal entries for the following
jan-1 started business with cash 50000 & loan 80000
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Answer / shivdayal
Cash A/c Dr 130000
to Capital a/c 50000
to Loan a/c 80000
| Is This Answer Correct ? | 181 Yes | 23 No |
Answer / dileep
cash a/c Dr 130000
to capital a/c 50000
to loan a/c 80000
| Is This Answer Correct ? | 74 Yes | 16 No |
Answer / kunal
Cash A/c Dr 130000
to Capital a/c 50000
to Loan a/c 80000
| Is This Answer Correct ? | 24 Yes | 6 No |
Answer / althafali.j
cash account DT
TO capital
TO loans
bcz capital &loan has credit balance
| Is This Answer Correct ? | 19 Yes | 9 No |
Answer / arnav mehra
Cash A/c ... dr 1,30,000
To capital A/c. 50,000
To bank loan A/c 80,000
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / akshay kumar
Dear Shivdayal ,
Your answer is 100% correct. Don't worry.
| Is This Answer Correct ? | 7 Yes | 9 No |
Answer / ramesh kumar
CASH A/C DR 50000
BANK A/C DR 80000
TO BANK LOAN A/C 80000
TO CAPITAL A/C 50000
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / jay raj
Cash a/c Dr. 1,30,000
To Capital a/c 1,30,000
Explanation: A business doesn't exist until the capital is invested by the owner. The loan was taken before the birth of business. Although, the loan has been taken for the purpose of commencement of the business, it should be treated as personal transaction of the owner.
| Is This Answer Correct ? | 7 Yes | 13 No |
Answer / sanjeev kumar
cash dr 50000
capital dr 30000
loan a/c Cr 80000
| Is This Answer Correct ? | 3 Yes | 25 No |
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