Bought plant and machinery for the business for ₹1,50,000 and an advance of ₹ 10,000 in cash is paid to M/s Ramesh & Sons. Analysis of transaction: This transaction increases plant and machinery (assets) by ₹ 1,50,000, decreases cash by …
Transaction: Bought furniture for ₹160,000 and cheque was issued on the same day. Analysis of transaction: This transaction increases furniture (assets) and decreases bank (assets) by ₹160,000.Â
Transaction : Opened a bank account in Bank of India with an amount of ₹5,00,000. Analysis of transaction: This transaction increases the cash at bank (assets) and decreases cash (asset) by ₹5,00,000.