give journal entries for the following
jan-1 started business with cash 50000 & loan 80000
Answer Posted / 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 |
Post New Answer View All Answers
i want know how to calculate it in payroll please mail me the percentages using there ?
your parents have lent you $20,000 to buy a car and have told you to pay it back whenever you like in conceptual framework
in what form is crr kept in RBI?
wat is the fundamental analysys& technical analasys?and wat is the difference bewween fundamental analysys&technical analasys?
1. Cold Ice, Inc. sells ice cream sells for $2 each. The variable costs per ice cream are $1 and the fixed overheard costs are $ 0.35. A summer camp wants to place a one-time order for 100 cone of ice cream at a price of $ 1.25 each. What is the minimum price hot dogs should be charge for this special order?
Hi friends can you send me the Accounting Interview questions with a interview experienced questions please
what is cost accountinp
How to raise my credit score if I have 500 credit score?
what is the core accounts
What is limit of turnover for registering under CST & limit of Form 'C '
What is T+2 rolli g settlement cycle?
What z d diff of accounting principle,accounting standard,accounting rules,accounting procedures,accounting concepts??????
can you define exogenity endogenity both terms are from economics both are different from exogenous & endogenous variables. I can not find the answers. please help if you can....
What is the procedure to become charted accountant in India now. Please answer this is urgent
Depreciation method to using Indian company names