Question

01 Write journal entry of business commenced by Shri Maulik Shah with the name of Shah traders: July 1: Brought Rs 50,000 cash, debtors Rs 20,000, stock of goods Rs 10,000, and creditors Rs 5,000 and commenced business. 2: Deposited cash Rs 20,000 with Vijaya Bank and opened an account. 3: Goods of Rs 20,000 purchased from Surnul at 10% trade discount.

Name: 01 write journal entry of business commenced by shri maulik shah with aname of shah tradersjuly 1 brought rs 50000 cash debtors rs 20000 stock of goods rs 10000and creditors rs 5000 and comm 50863
Uploaded: 2023-07-24T05:03:26-08:00
Duration: 4 min 40 s
Channel: Adi S
Description: 01 write journal entry of business commenced by shri maulik shah with aname of shah tradersjuly 1 brought rs 50000 cash debtors rs 20000 stock of goods rs 10000and creditors rs 5000 and comm 50863

          01 Write journal entry of business commenced by Shri Maulik Shah with the name of Shah traders:
    July 1: Brought Rs 50,000 cash, debtors Rs 20,000, stock of goods Rs 10,000, and creditors Rs 5,000 and commenced business.
    2: Deposited cash Rs 20,000 with Vijaya Bank and opened an account.
    3: Goods of Rs 20,000 purchased from Surnul at 10% trade discount.

Added by Donna K.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Adi S

07/24/2023

Step 1

I have brought in Rs 50,000 cash, debtors worth Rs 20,000, and a stock of goods worth Rs 10,000. Show more…

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01 Write journal entry of business commenced by Shri Maulik Shah with the name of Shah traders: July 1: Brought Rs 50,000 cash, debtors Rs 20,000, stock of goods Rs 10,000, and creditors Rs 5,000 and commenced business. 2: Deposited cash Rs 20,000 with Vijaya Bank and opened an account. 3: Goods of Rs 20,000 purchased from Surnul at 10% trade discount.