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Categories >> Accounting >> Accounting AllOther


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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.
 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 ?    39 Yes 9 No
# 2
purchase a/c dr 10000
cash a/c cr 10000

drawing a/c dr 1000
purdchase cr 1000
Is This Answer Correct ?    37 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 5 No
Shalini Parisha
# 5
Drawing A/c Dr 1000
Purchase A/c Cr 1000
Is This Answer Correct ?    30 Yes 20 No
Ahasan Ali
# 6
firniture ac dr 9000
drawings ac dr 1000
to cash ac 10000
Is This Answer Correct ?    14 Yes 6 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 9 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 28 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 8 No
# 10
purchase a/c dr......10000
to capital a/c 9000
to drawings a/c 1000
(being: mr. a started furniture business with chairs & one
chair used for personal use).
Is This Answer Correct ?    2 Yes 1 No

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