Give journal entries for the following transactions1. Ram started busi

Give journal entries for the following transactions1. Ram started business with cash Rs. 80,000/- Building Rs. 1,50,000/-Machinery Rs. 1,20,000/ – and stock of goods Rs. 50,000/-2. He purchased goods for Rs. 70,000 of which he paid Rs. 50,000 in cash and balance on credit from Mohan.

Answer»

Journal
Date	Particulars		LF	Debit	Credit
	Cash A/c	Dr		80,000
	Building A/c	Dr		1,50,000
	Machinery A/c	Dr		1,20,000
	Stock A/c	Dr		50,000
	To Ram's capital A/c [Started business with cash building, machinery and stock]				4,00,000
	Purchase A/c	Dr		70,000
	To Cash A/c				50,000
	To Mohan's A/c [Purchased goods for cash & Credit]				20,000

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Give journal entries for the following transactions1. Ram started business with cash Rs. 80,000/- Building Rs. 1,50,000/-Machinery Rs. 1,20,000/ – and stock of goods Rs. 50,000/-2. He purchased goods for Rs. 70,000 of which he paid Rs. 50,000 in cash and balance on credit from Mohan.

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