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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.
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Answer Posted / 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 |
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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
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