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Commenced business by Sarita with her bank balance 100000 and furniture 100000​

2 Answers

1 vote

Answer:

200,000

Step-by-step explanation:

User Jaron
by
5.4k points
8 votes

Answer:

see below

Step-by-step explanation:

This transaction increases the bank balance ( asset account) by 100,000 and furniture account( asset account) by 100,000.

Capital account increases by 200,000. An increase in assets is a debits while an increase in capital is credited.

The journal entry will be as follows

Bank A/C Dr. 100,000

Furniture A/C Dr. 100,000

Capital A/C Cr. 200,000

User JRJurman
by
5.4k points