mgt101 GDB solution fall 2020
TransactionsParticular accountNatureDebit or CreditApplied Rule of Debit and creditInvestment of cash for Rs. 30,000 is made in business by the owner.Capital a/cCreditIncrease in equityBought land of Rs. 300,000 on credit basis.Land a/cNature of Transaction is Debit Increase Of AssestsPaid salaries of Rs, 25,000 by cheque.Salaries a/cNature of Transaction is debit Increase Of ExpensesGoods returned to suppliers for Rs. 10,000.Purchases return a/cNature of Transaction is CreditDecrease In ExpensesSold goods of Rs. 40,000 to XYZ brothers on cash basisSales a/cNature of Transaction is CreditIncrease In IncomeSee More
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