Question

On 1 st March, 2020 Mr. Mohit started a Furniture business in GANDHI NAGAR Mr. Mohit invested Rs 50,00,000.

Answer 1

Answer:

Answer to the following question is as follows;

Step-by-step explanation:

Given:

Amount invested by Mr. Mohit = Rs. 50,00,000

Computation:

Books of (...... LTD)

Journal entries

Date                         Particular                        Debit        Credit

March 1         Cash                     A/C Dr.     50,00,000

                     To Capital            A/C Cr.                         50,00,000

(Being Amount invested in new business)