:: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Categories >> Accounting >> Accounting AllOther


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4362)
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 Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
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
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 ?    38 Yes 8 No
# 2
purchase a/c dr 10000
cash a/c cr 10000

drawing a/c dr 1000
purdchase cr 1000
Is This Answer Correct ?    36 Yes 9 No
# 3
furniture a/c dr. 10000
to cash a/c 10000

drawings a/s dr. 1000
to furniture a/c 1000
Is This Answer Correct ?    38 Yes 16 No
# 4
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 ?    16 Yes 4 No
Shalini Parisha
# 5
Drawing A/c Dr 1000
Purchase A/c Cr 1000
Is This Answer Correct ?    30 Yes 19 No
Ahasan Ali
# 6
firniture ac dr 9000
drawings ac dr 1000
to cash ac 10000
Is This Answer Correct ?    14 Yes 4 No
# 7
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 ?    12 Yes 8 No
# 8
he is using one chair but he purchased 10 chairs


furniture a/c Dr(for10 chairs)
Cash A/c
Is This Answer Correct ?    30 Yes 27 No
R Sujatha
# 9
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 7 No
# 10
purchase a/c dr 9000
to cash 9000

being purchasing goods
according to business entity concept owner personal transactions should not be recorded in the books of accounts.
Is This Answer Correct ?    3 Yes 2 No

Other Accounting AllOther Interview Questions
  Question Asked @ Answers
Should I deduct TDS for Dyeing Charges in Garments Industry? If yes what is the percentage under which group it will come?   3
What is Income Statement ?   1
Who is a merchant   3
EXPAND___________MOA   6
Expand N S E   3
what are the difference between bookkeeping and accounting ?   3
What are the differences among Mortgage, Pledge and Hypothecation ? please any body reply me in simple language as I have read many articals on it still I find my self anble to explain it, I always get confused. If want to tell personally please send me email or add me on Gtalk My ID is Thanks HDFC 4
Expand-----DRM   1
Answered but misspelled pl correct PROFIT AND LOSS ACCOUNT HELPS US TO KNOW (ANS.EENTRSULT)   1
What is the Accounting Treatment for Contingent Liability ?   3
where does preliminary expenses put in the balance sheet? Essar 6
For more Accounting AllOther Interview Questions Click Here 

Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
Copyright 2013  All Rights Reserved.   ::