Mr. Anand started business with cash Rs.60,000 Journal Entry

2019 April 1. Mr. Anand Started business with Cash Rs.60,000.

Solution:

DATE	PARTICULARS	L/F	DEBIT	CREDIT
2019,  April 1	Cash A/c Dr.            To Capital A/c   [Being Business started with cash]		60,000	60,000

Explanatory Note:

Mr. Anand started business with Cash.

In the above Transaction Mr. Anand brought Cash into the Business. As we are writing Journal Entries in the Books of Mr. Anand  this implies that Mr. Anand is the Proprietor of the Business. "Whenever Proprietor bring Cash into the Business it means it is a Capital for the Business from this Capital he will run the Business". 

According to Golden Rule of Personal Account:

On Debit Side Cash Account because 'Debit the Receiver' and From the side of Business. We can catch a sight that Business is receiving the Cash Amount from the Proprietor. In Debit Amount Column Rs.60,000 will be Debited.

On Credit Side Capital Account because 'Credit the Giver'. Where Cash is given by Proprietor to the Business And in Books of Account we write Capital Account when Cash bought by Proprietor. In Credit Column Rs.60,000 will be Credited.