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Question
Complete the following table:
| Sr. No. | Transactions | Debit Amount (₹) | Credit Amount (₹) |
|
1 |
Paid Income Tax ₹ 5,000 by cheque | ? | Bank A/c |
| 2 | Received from Sonali ₹ 20,000 by RTGS | Bank A/c | ? |
| 3 | Sanjay became insolvent and not received ₹ 500 | ? | Sanjay A/c |
| 4 | Purchased Horse for ₹ 10,000 |
? |
Cash A/c |
| 5 | Transferred from Fixed deposit A/c of proprietor to business Bank A/c ₹ 50,000 | Bank A/c | ? |
Chart
Solution
| Sr. No. | Transactions | Debit Amount (₹) | Credit Amount (₹) |
|
1 |
Paid Income Tax ₹ 5,000 by cheque | Income tax A/c | Bank A/c |
| 2 | Received from Sonali ₹ 20,000 by RTGS | Bank A/c | Sonali A/c |
| 3 | Sanjay became insolvent and not received ₹ 500 | Bad Debts A/c | Sanjay A/c |
| 4 | Purchased Horse for ₹ 10,000 | Live Stock A/c | Cash A/c |
| 5 | Transferred from Fixed deposit A/c of proprietor to business Bank A/c ₹ 50,000 | Bank A/c | Capital A/c |
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