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.
Answer Posted / 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 |
Post New Answer View All Answers
What are the steps involved in converting the trail balance of a foreign branch? Explain the steps involved in incorporating the foreign branch trail balance in HO books
What type of questions are asked for Interview of Manager Finance in Airport Authority of India ?
euro currency market
how to calculate share values of a company.
what you mean by cross dunning
i have completed my MBA with finace background. am intrested to learn oracle finace.can you suggest me which are good instittues in hyderabad.at area wise.
Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office
with out college degree con't we dc accounting job?
Is depreciation a expense or income?
What is intangiable asset?Which contents are to be verified during cheking the Transporters' bills?
what is the main link between the income statement and the balance sheet?
what is the difference between Tally ERP and SAP FI ECC?
How can I find out my credit rating score for free?
what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?
You configured new asset accounting with three depreciation areas that post in real time. You need to do a partial scrapping to an asset in transaction type. How many document does the transaction create ?( any 1 answer) 1 3 4 6