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.
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Answer / satyaki_raju@yahoo.com
Mr Manoranjan you are wrong because A is runnin furniture
business Hence the purchase of chairs is a salable good
The entry will be
Purchase a/c dr 9000
Mr A drawing a/c dr 1000
To Cash a/c 10000
(Being purchase of goods )
sujatha madam you are also wrong You should not pass
furniture entry why because he is doing business with
furniture
As requested by so many I composed 6 sets of question
papers with answer books suitable for accounts and finance
interviews. If needed pl send you e-mail
| Is This Answer Correct ? | 46 Yes | 11 No |
Answer / sourabh
purchase a/c dr 10000
cash a/c cr 10000
2nd
drawing a/c dr 1000
purdchase cr 1000
| Is This Answer Correct ? | 41 Yes | 11 No |
Answer / manoranjan
furniture a/c dr. 10000
to cash a/c 10000
drawings a/s dr. 1000
to furniture a/c 1000
| Is This Answer Correct ? | 40 Yes | 17 No |
Answer / shalini parisha
Purchases A/c Dr......... 9000
A's Drawing A/c Dr....... 1000
To Cash A/c 10,000
(Being Furniture Purchased for Cash)
| Is This Answer Correct ? | 19 Yes | 6 No |
Answer / venkat
firniture ac dr 9000
drawings ac dr 1000
to cash ac 10000
| Is This Answer Correct ? | 16 Yes | 7 No |
Answer / prem
Purcahse aAc Dr.............1000
To Cash A/c 1000
(Being chair purchased for cash)
Dwaring A/c Dr..............100
To Furniture a/c 100
(being the furniture withdrew for personnal use)
Note:(for 2nd entry) dwaring was made in the fornm of chair
and not in cash, so Mr. Raju sorry to say but ur wrong, it
cant be "To cash A/c" in place of "To furniture A/c"
| Is This Answer Correct ? | 14 Yes | 10 No |
Answer / rohit chaudhary
1.purchases A/c...dr 10000
to cash A/c 10000
2.drawings A/c...dr 1000
to purchases A/c 1000
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / sa
purchase a/c dr 9000
to cash 9000
drawing a/c dr 1000
to cash 1000
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / thirupathi
furniture a/c dr 9000
to cash a/c 9000
drawing a/c dr 1000
to cash a/c 1000
| Is This Answer Correct ? | 10 Yes | 10 No |
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