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 / 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
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| Is This Answer Correct ? | 46 Yes | 11 No |
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