To which account, the following transactions will be debited and credited in the books of Nilima? Describe with reason




1. ₹50,000 brought in cash and started business.

2. A loan of₹10,000 taken from Jasleen.

3. Bank account opened by depositing ₹30,000.

4. A computer purchased for ₹8,000.

5. Stationery purchased ₹1,000.

6. Purchase made of ₹20,000.

7. Purchase is made of ₹30,000 from Raman. 

8. Goods of ₹15,000, sold on cash for ₹28,000.

9. Goods of ₹8,000 sold to Nila for ₹15,000.

10. Goods returned to Raman of ₹2,000.

11. Goods returned by Nila of ₹1,500.

12. Paid ₹500 for carriage.

13. Goods of ₹200 destroyed by fire. 

14. Commission received ₹5,000.

15. ₹2,000 paid or salary.

Solution


In the Books Of Nilima.


Sr. No. 

Transaction 

Dr. 

Benefit receiver person 

Dr.  

Goods/Asset comes in 

Dr.  

In case of Expense/ Loss 

Cr.  

Benefit giver  

person 

Cr.  

Goods/ Asset goes out 

Cr.  

In case of Income/gain 

1. 

₹50,000 Brought in cash and started business. 

 

Debit to cash A/c 

 

Credit to Capital A/c 

 

 

2. 

A loan of ₹10,000 taken from Jasleen. 

 

Debit to Cash A/c 

 

 

Credit to Jasleen loan A/c 

 

 

3.  

Bank account opened by depositing ₹30,000 

 

Debit to Bank A/c 

 

 

Credit to Cash A/c   

 

4. 

A computer  

purchased for ₹8,000. 

 

Debit to Computer A/c 

 

 

Credit to cash A/c  

 

5. 

Stationery  

purchased ₹1,000. 

 

 

Debit to Stationery A/c 

 

Credit to cash A/c 

 

6. 

Purchase made of ₹20,000. 

 

Debit to 

Purchase  

 

 

Credit to cash A/c 

 

7. 

Purchase is made of ₹30,000 from Raman. 

 

Debit to 

Purchase 

 

Credit to Raman A/c 

 

 

8. 

goods of ₹15,000, sold on cash for ₹28,000 

 

Debit to Cash A/c 

 

 

 

Credit to sales A/c  

9. 

Goods of ₹8,000 sold to Nila for ₹15,000. 

Debit to Nila A/c 

 

 

 

 

Credit to sales A/c 

 

10. 

Goods returned to Raman of ₹2,000. 

Debit to Raman A/c 

 

 

 

Credit to Purchase Returned A/c 

 

11. 

Goods returned by Nila of ₹1,500. 

 

Debit to Sales Returned A/c 

 

Credit to Nila A/c 

 

 

12. 

Paid ₹500 for carriage. 

 

 

Debit to Carriage A/c 

 

Credit to cash A/c 

 

13. 

Goods of ₹200 destroyed by fire. 

 

 

Debit to Goods lost by Fire A/c 

 

Credit to Purchase A/c 

 

14. 

Commission received ₹5,000 

 

Debit to Cash A/c 

 

 

 

Credit to Commision A/c 

15. 

₹2,000 paid or salary. 

 

 

Debit to salary A/c  

 

Credit to Cash A/c 

 







  Explanation：

1. Cash comes in business(Capital) ─ Owner gave cash to Business for startup.
    Cash A/c Debit ─ Capital A/c Credit

2. Cash comes in ─ Bowered Cash from Jasleen.
     Cash A/c Debit ─ Jasleen A/c Credit

3. Bank as received cash ─  Cash goes out from business.
     Bank A/c Debit ─ Cash A/c Credit

4. Asset comes in ─ purchase a Computer. 
     Computer A/c Debit ─ Cash A/c Credit

5. Stationery expense ─ paid for Stationery Expense.
     Stationery A/c Debit ─ Cash A/c Credit

6.  Cash goes out ─ Purchase goods.
     Purchase A/c Debit ─ Cash A/c Credit

7. Comes goes out ─ Purchase Goods from Raman on Credit.
    Purchase A/c Debit ─ Raman A/c Credit 

8. Cash comes in business ─ Goods sold Sales made.
    Cash A/c Debit ─ Sales A/c Credit 

9. Sales made.  Nila is receiver ─ Not through cash. goods goes out.
    Nila A/c Debit ─ Sales A/c Credit

10. Raman is person. Raman is receiver ─ Purchase returned. goods goes out.
       Ramanm A/c debit ─ Purchase returned A/c credit 

11.  Sales returned. Goods comes in ─ Nila is person. Nila is giver.
      Sales returned A/c Debit ─ Nila A/c Credit

12. Carriage is Expense ─ Cash goes out from business
       carriage A/c Debit ─  cash A/c credit

13. Goods Lost by fire ─ purchase of goods lost.
        Goods lost by fire A/c Debit ─ purchase A/c credit 

14. Cash comes in business Commission is income.
      Cash A/c Debit ─ Commission A/c Credit 

15. Salary is an expenses ─ Cash goes out from business.
      Salary A/c Debit ─ Cash A/c Credit

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