Question

1. Purchased Machinery fo1. Purchased Machinery for cash should be debited to: (a) Machinery A/C (b) Cash Alc (c) Purchase A/C (d) None of theser cash should be debited to: (a) Machinery A/C (b) Cash Alc (c) Purchase A/C (d) None of these

Answer 1

Answer:

Explanation:

• MACHINERY A/C DR  

             TO CASH A/C CR            

( MACHINERY PURHASED FOR

   CASH )

WHEN AN ASSET PURCHASED IT WILL DEBITED TO CONCERNED ASSET ACCOUNT => WHEN MACHINERY IS PURCHASED IT WOULD BE DEBITED TO MACHINERY ACCOUNT