Started Business with cash Rs. 50,000, Bank Rs. 1,00,000, Goods worth Rs. 50,000.




 Started Business with cash Rs. 50,000, Bank Rs. 1,00,000, Goods worth Rs. 50,000 journal entry

DATE

PARTICULARS 

L/F 

DEBIT 

CREDIT

2019 

June 

1 

Cash A/c                      Dr. 

Bank A/c                      Dr. 

Goods A/c                   Dr. 

          To Capital A/c  

[Being Business Started with cash, bank and goods] 

 

50,000 

100,00050,000 

 

 

 

2,00,000 



Started Business with Cash, Bank and Goods. Cash, Bank and goods are the Capital for the Business therefore it is Debited to debit side. And capital account is to be Credited because capital account is an nominal account therefore by nominal account formula credit all income and gain though Capital is an income for the business.


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