Entry Posting

Virag Sambaria (Student) (30 Points)

03 March 2011

If we start business with cash and goods then what will be the entry for goods a/c and how it will place in tally

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11 Replies

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 03 March 2011

Dr Cash

Dr Inventory

credit capital account

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sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 03 March 2011

here goods I presume that it is inventoy if the goods are fixed assets debit fixed assets

Pankaj Arora (Learner) (3134 Points)
Replied 03 March 2011

For Goods Entry

Purchase A/c Dr.

Capital A/c. Cr. Cr.

(if Goods given by Propritor to firm)

For Cash Entry

Cash Dr.

Capital A/c Cr.

APOORV SAXENA (Chartered Accountant) (794 Points)
Replied 03 March 2011

Its will be :

1. Cash a/c Dr. 2000

To Capital a/c 2000

(Introduction of cash)

2. Purchase a/c Dr. 1000

to Cash 1000

(cash purchase) it will be done in pymt mode

Capital a/c will show a balance of 2000/- , Cash a balance of 1000/- and PnL a loss of 1000/- (in debit side)

Both sides tallied !!

Pothuganty sudheer (Consultant, C.A, C.S) (411 Points)
Replied 03 March 2011

Here entry is to be passed on the basis of Business entity concept..I agree with the posts made for the question

asked.

Wish you all the best for all your future endeavours,

Best regards,

(Guest)

Originally posted by : APOORV SAXENA
	Its will be : 1. Cash a/c Dr. 2000 To Capital a/c 2000 (Introduction of cash) 2. Purchase a/c Dr. 1000 to Cash 1000 (cash purchase) it will be done in pymt mode Capital a/c will show a balance of 2000/- , Cash a balance of 1000/- and PnL a loss of 1000/- (in debit side) Both sides tallied !!