facing problem in making journal entries ....rest of the ques is easy bt i am not getting how to start the ques plse help me out...
Dear Student,
Journal entries can be started with the following transactions:
a) Investment entry of Rs 3,00,000 by Dr Cash & CR Capital;
b) Entry for Loan taken of Rs 3,00,000 by DR Cash CR Loan A/c
c) Entry for purchase and repairs of space;
d) Bank Interest entry for first four quarters of the year @ 12%;
e) Transfer of Rs 2,00,000 from saving A/c to Bank A/c of the business;
f) Entry for Security deposit for electricity and telephone;
g) And final entry for furniture purchased and amount drawn;
Hope this helps;
Do get back to us for any further queries;
Regards,
Journal entries can be started with the following transactions:
a) Investment entry of Rs 3,00,000 by Dr Cash & CR Capital;
b) Entry for Loan taken of Rs 3,00,000 by DR Cash CR Loan A/c
c) Entry for purchase and repairs of space;
d) Bank Interest entry for first four quarters of the year @ 12%;
e) Transfer of Rs 2,00,000 from saving A/c to Bank A/c of the business;
f) Entry for Security deposit for electricity and telephone;
g) And final entry for furniture purchased and amount drawn;
Hope this helps;
Do get back to us for any further queries;
Regards,