mr prakash started a business of buying and selling gift boxes with rs3,50,000 as an initial investment - Accountancy - Introduction to Accounting

Question

mr prakash started a business of buying and selling gift boxes
with rs3,50,000 as an initial investment

Manisha Arora · Accepted Answer

Thumbs-up to Khushboo for correct answer
However, the Journal Entry is as follows:

Journal

Date
Particulars
L F
Debit
Amount
(Rs)
Credit
Amount
(Rs)

Cash A/c
Dr

3,50,000

To Capital A/c

3,50,000

(Business started with cash)

mr.prakash started a business of buying and selling gift boxes with rs3,50,000 as an initial investment