MGT101 GDB No.

1 2020
Transaction Particular Account Nature Debit or Applied rule of Debit and
Credit Credit

Invest of cash for Rs. 30,000 CapitalA/C Credit IncreaseEquity

is made in business by the
owner.
Invest of cash for Land A/C Debit Increase Assets
Rs. 300,000 on credit basis.
Paid services of Rs. 25,000 by Salaries A/C Debit Increase
cheque.
Expenses.
Goods returned to Purchase Credit Decrease
suppliers for Rs. 10,000 Return A/C Expenses.
Sold goods of RS, 40,000 SalesA/C Credit Increase
XYZ brothers on cash basis.
Income.