Interested to Buy Any Domain ? << Click Here >> for more details...
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.
- 32 Answers
- 42063 Views
- Genpact, IBM, I also Faced
- E-Mail Answers
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
Expand------ARN
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
We have two mandatory qualifiers nature of accounts and balancing segment, which will balance the debit and credit and recognize the nature of accounts, my question is what other qualifiers do. Like management. Thank you.
What exactly balance sheet depicts
what is ZBA hold & balance hold in banking?
Why you want to leave your present job while they offer you with good offer?
How can you actualize cah flows of 5 years at 8%
i want know how to calculate it in payroll please mail me the percentages using there ?
Please tell me about service tax, tds, vat & ITR return with A to Z completely detail.
how to calculate share values of a company.
what is the difference between Assets Allocation & Security selection?
How can I explain p2p process in SAP?
what is investment banking
define holding company,public company, if the compnay be a public company what will the criteria? asked on 30/7/09
If we spend a sum of Rs.10 Lacs towards Processing and Upfront fee for obtaining working capital term loan. can we treat this amount as a deferred revenue expenditure or not
