Recording of Transactions - I

State different kinds of transactions that increase and decrease capital.

Does debit always mean increase and credit always mean decrease?

Which of the following answers properly classifies these commonly used accounts: (1) Building (2) Wages (3) Credit sales (4) Credit purchases (5) Electricity charges due but not yet paid (outstanding electricity bills) (6) Godown rent paid in advance (prepaid godown rent) (7) Sales (8) Fresh capital introduced (9) Drawings (10) Discount paid

State the title of the accounts affected, type of account and the account to be debited and account to be credited:

1. Bhanu commenced business with cash ₹ 1,00,000.
2. Purchased goods on credit from Ramesh ₹ 40,000.
3. Sold goods for cash ₹ 30,000.
4. Paid salaries ₹ 3,000.
5. Furniture purchased for cash ₹ 10,000.

The ledger folio column of journal is used to:

The journal entry to record the sale of services on credit should include:

Issued a cheque for ₹8,000 to pay rent. The account to be debited is ______.