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Hari Krishna

Hari Krishna

CA Foundation

1K+

16-May-20 12:11

25

Bank or cash A/C

"Started business with a capital of â?¹50,00,000" What to record as bank or cash a/c in the above when journalising. Can we take any one(cash or bank) or we consider particularly one.

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Answers (4)

ruchi lahoti

ruchi lahoti

Moderator

16-May-20 12:33

It can be in two ways, if cash is brought in then cash a/c is debited if u draw a cheque then Bank a/c is debited

Hari Krishna

Hari Krishna

CA Foundation

1K+

16-May-20 15:50

ruchi lahoti

ruchi lahoti

Moderator

16-May-20 12:33


It can be in two ways, if cash is brought in then cash a/c is debited if u draw a cheque then Bank a/c is debited

Ok but in the given transaction-"started business with capital â?¹50, 00,000". The transaction is not clear about what bought(cash) or cheque drawn. In this case what to consider

Hari Krishna

Hari Krishna

CA Foundation

1K+

18-May-20 09:29

ruchi lahoti

ruchi lahoti

Moderator

16-May-20 16:58


In absence of information..it is always considered to be Bank

Thanks a lot ð???