debit cash 50000
credit capital 50000
debit cashcredit capital
When business is started without cash then may be owner invested some kind of asset in business journal entry is as follows: [Debit] asset in kind [Credit] Owner's Equity
show me journal entery answer started buiness
suman
Furniture a/c dr. To capital a/c
debit cashcredit capital
When business is started without cash then may be owner invested some kind of asset in business journal entry is as follows: [Debit] asset in kind [Credit] Owner's Equity
show me journal entery answer started buiness
suman
Furniture a/c dr. To capital a/c
cash a/c dr 50000 bank a/c dr 30000 TO CAPITAL a/c 80000
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
Journal entry is made as soon as when any business transaction occur in business.
Debit bank account 50000Credit cash 50000
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
Debit Land 22000 Credit Capital 22000