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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



Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / r sujatha

he is using one chair but he purchased 10 chairs

so

furniture a/c Dr(for10 chairs)
Cash A/c

Is This Answer Correct ?    30 Yes 31 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / jaya trilokani

PURCHASE A/C DR 9000
DRAWING A/C DR 1000
TO CASH 10000

Is This Answer Correct ?    0 Yes 1 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / smart_tina6

Mr.Satyaki Raju, Pls send your 6 sets of questions paper
along with answer booklet to smart_tina6@yahoo.com

Is This Answer Correct ?    2 Yes 4 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / faiz

furniture a/c .......... dr 9000
drawing a/c ........... dr 1000
To cash ................. 10000
(narration : being 10 chairs purchase for furniture
business and 1 chair used for private use)

Is This Answer Correct ?    2 Yes 4 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / safeer

furniture A/c Dr 10000 -
fixed asset a/c Dr 1000 -
To capital a/c 9000
(being the 10 chairs purchased & one is used for personal
use)

Is This Answer Correct ?    1 Yes 3 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / imran

goods a/c Dr 1000*9 9000 -
To cash/Bank a/c - 9000
(Being goods purchased )

Furniture a/c Dr 1000*1 1000 -
To Fixed asset a/c - 1000
(being 1 furnituer is used as personal)

Is This Answer Correct ?    1 Yes 3 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / priya

Purchases a/c dr
To cash/bank a/c

Drawings a/c dr
To purchases a/c

here goods are taken for personal use so purchases a/c has
to credited ,If cash is taken for personal use cash has to
be credited

Is This Answer Correct ?    2 Yes 5 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / swetha

PURCHASE AC DR 10000
TO Mr. A AC 10000
DRAWINGS AC DR 1000
TO PURCHASE AC 1000

Is This Answer Correct ?    1 Yes 4 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / satendra rawat

1)purcahse a/c 10000.00 DR

party a/c 10000.00 CR

2) A's Capital a/c 1000.00 DR
Purchase a/c 1000.00 CR

Is This Answer Correct ?    0 Yes 4 No

Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at R..

Answer / manish vatsaya

Purchase A/c----------------Dr.9000.00
A'S Capital A/c-----------------Dr.1000.00

To,Cash/Ban ----------------10000.00

Is This Answer Correct ?    1 Yes 6 No

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