Pass Journal Entry for the following
Mr.A is running Furniture Business. He bought 10 chairs at
Rs.1000 each. He used one chair for his personal use.
Answers were Sorted based on User's Feedback
Answer / chandu
purchase a/c dr 9000
to cash 9000
being purchasing goods
according to business entity concept owner personal transactions should not be recorded in the books of accounts.
Is This Answer Correct ? | 3 Yes | 3 No |
Answer / amu
purchase a/c dr......10000
to capital a/c 9000
to drawings a/c 1000
(being: mr. a started furniture business with chairs & one
chair used for personal use).
Is This Answer Correct ? | 2 Yes | 2 No |
Answer / vijaykumar
Furniture a/c dr 9,000
Drawing a/c dr 1,000
To cash a/c 10,000
(narration : being 10 chairs purchase @ Rs. 1000/- each
for business use and 1 chair he used for his personal use
Rs. 1000/-)
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kavita
I too agree with
firniture ac dr 9000
drawings ac dr 1000
to cash ac 10000
Mr.Satyaki Raju, Pls send your 6 sets of questions paper
along with answer booklet to kavita.lal@gmail.com
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / neha agarwal
Purchase A/C....Dr 9000
Drawing A/C....DR 1000
To Cash A/C 10000
(Being 9 chairs purchased for business purpose and one chair for his personal use)
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kadavul
furniture alc dr
drawing a/c dr
discound allowed dr
to cash
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / raghvendra prasad.k
Furniture a/c Dr/ 10000
TO cash a/c 10000
Drawing A/c Dr 1000
To cash A/C 1000
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / dharam singh
Cash A/c....Dr. 9000
Drawing A/C.Dr. 1000
To Capital Introduced A/C 10000
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / gagan kumar
At the time of purchase
Purchase a/c Dr....... 10000
To cash a/c......... 10000
At the time of withdraw a chair for personal use
Drawing a/c Dr... 1000
To purchase a/c... 1000
Because 1 chair is used so it will be deduct in the purchase.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / saurajit
Purchase a/c dr. 10000
to Cash a/c cr. 10000
And the second entry will be
Drawings a/c dr. 1000
to Purchase a/c 1000
Is This Answer Correct ? | 0 Yes | 0 No |
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