Question

On 1 st March, 2020 Mr. Mohit started a Furniture business in GANDHI NAGAR Mr. Mohit invested Rs 50,00,000.

Answer 1

Answer to the following question is as follows;

Explanation:

Given:

Amount invested by Mr. Mohit = Rs. 50,00,000

Computation:

Books of (...... LTD)

Journal entries

Date Particular Debit Credit

March 1 Cash A/C Dr. 50,00,000

To Capital A/C Cr. 50,00,000

(Being Amount invested in new business)