1. Business started with Cash Rs. 100,000/-, Bank Balance Rs. 150,000/-, Merchandise goods Rs 40,000/-, furniture Rs. 5,000/- & Office equipment Rs. 30,000/-

Question

2. Goods Purchase from ABC Co of Rs. 40,000/- on cash less 15% discount

Answer 1

Cash A/C Dr. 100000
Bank A/C Dr. 150000
Goods A/C Dr. 40000
Furniture A/C Dr. 5000
Office A/C Dr. 30000
To Capital A/C 325000
(Being business started with cash,bank balance,goods,furniture & office equipments)