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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.

Question Posted / sr

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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