JOURNAL : introduction

What shall be the amount of Capital if cash is Rs. 10,000; Furniture Rs. 24,000; Stock Rs. 60,000 and Creditors Rs. 12,000.

• Rs. 1,02,000

• Rs. 87,000

• Rs. 82,000

• Rs. 40,000

Journal Entry for Introduction of Capital is?

• Cash A/C (Debit) - To Capital A/C (Credit)

• Capital A/C (Debit) - To Cash A/C (Credit)

• Cash A/C (Debit) - To Bank A/C (Credit)

• Bank A/C (Debit) - To Cash A/C (Credit)

Journal Entry for Selling Furniture in Cash is?

• Furniture A/C (Debit) - To Cash A/C (Credit)

• Cash A/C (Debit) - To Furniture A/C (Credit)

• Cash A/c (Debit) - To Sales A/c(Credit)

• Sales A/c (Debit) - To Furniture A/c(Credit)

Below Journal Entry is for a Credit Sale?

Cash A/C (Debit) - To Sales A/C (Credit)

• TRUE

• FALSE

Paid Salary to Staff via Bank Transfer 1,00,000.

• Salary A/C (Debit) - To Cash A/C (Credit)

• A) Salary A/C (Debit) - To Bank A/C (Credit)

• A) Cash A/C (Debit) - To Bank A/C (Credit)

• A) Salary A/C (Debit) - To Income A/C (Credit)

Made Payment to a Creditor (Kumar) through Cheque.

• Debtor A/C (Debit) - To Bank A/C (Credit)

• Kumar A/C (Debit) - To Bank A/C (Credit)

• Debtor A/C (Debit) - To Cash A/C (Credit)

• Kumar A/C (Debit) - To Cash A/C (Credit)

Journal Entry for Purchasing Machine in Cash is?

• Purchase A/C (Debit) - To Cash A/C (Credit)

• Purchase A/C (Debit) - To Machine A/C (Credit)

• Machine A/C(Debit) - To Purchase A/c (Credit)

• Machine A/C (Debit) - To Cash A/C (Credit)

Deposited 10,000 in Bank.

• Cash A/C (Debit) - To Bank A/C (Credit)

• Bank A/C (Debit) - To Capital A/C (Credit)

• Bank A/C (Debit) - To Cash A/C (Credit)

• Cash A/C (Debit) - To Capital A/C (Credit)

Purchase of goods from X for cash should be credited to______.

• Purchase
• Cash
• X
• Goods

Main object of preparing a Journal is:

• To ascertain the financial position of the business
• To journalise the cash transactions
• To make posting in the ledger
• To record the business transactions first of all