debit cash
credit 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
debit cash 50000credit capital 50000
show me journal entery answer started buiness
suman
Debit business expensesCredit cash
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
debit cash 50000credit capital 50000
show me journal entery answer started buiness
When business is started with cash: cash a/c dr. To capital a/c
suman
Debit business expensesCredit cash
Debit cash 4000debit furniture 10000Credit capital 14000
debit assetsCredit liabilitiesCredit cash
she invested P 50, 000 in cash to start his business
Debit Cash 5000 Credit Capital 5000
mr.x commenced business with cash
A cash in hand journal entry records the physical cash a business has available at a given time. The typical journal entry for cash received would debit the Cash account, increasing its balance, and credit the corresponding account, such as Sales Revenue or Accounts Receivable, depending on the source of the cash. For example, if a business receives $1,000 in cash from a sale, the entry would be: Debit Cash $1,000 and Credit Sales Revenue $1,000. This entry reflects an increase in assets and recognizes the income earned.