As per accounting equation increases of capital should be
Debited
Credited
Both a and b
None of the above
The following are the ledger balance as on 31st March 2008. From the following. Find out the opening entry.
Bank loan Rs. 4000
Building Rs. 50,000
Furniture Rs. 20,000
Debtors Rs. 10,000
Cash Rs. 5000
Creditors Rs. 8,000
Rs. 85000
Rs, 75,000
Rs, 73,000
Rs. 93,000
While in the classification of goods A/c purchase are recorded at _____ prices.
Cost price
Retail price
Selling price
The transactions relating to income and expenditure should be treated as ______, If the word cash is mention.
Cash
Credit
Paid cash to Naresh from this transaction which account has been debited ?
Naresh
Sales
Paid salary to Madan, from this transaction How many accounts involved ?
Only one
Two
Three
April 14, 2004 – commission received Rs. 5000. From this transaction Identify which account is to be debited ?
Commission A/c
Cash A/c
Bank A/c
Point out increase of creditors is
Debit
Both a & b