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Bank or cash A/C
Accountancy
"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.
Answers (4)
ruchi lahoti
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
Thread Starter
Hari KrishnaOk 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
In absence of information..it is always considered to be Bank
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