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Categories >> Accounting >> Accounting AllOther


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 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
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

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What form of classification of expenses is expected for a charity whose gross income does not exceed ?250,000 preparing accruals accounts?   1
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