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    asenasalailagi's Avatar
    asenasalailagi Posts: 1, Reputation: 1
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    #1

    Jul 12, 2012, 05:31 AM
    Solving accounting word problem
    Harsha started business with cash $100000.
    Purchased goods from Naman for cash $40000.
    Purchased goods from Vikil for $10000.
    Sold goods to Banu costing $10000 for $12000.
    Sold goods for cash $15000 (cost $14000)
    Bought furniture for cash $5000.
    Paid rent $500.
    Received interest $800.
    Withdrew for personal use $1000.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jul 12, 2012, 06:32 AM
    These are simple journal entries. For example number one:
    Debit Cash for 100,000
    Credit Owners Capital 100,000
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