Question

14. Pass journal entries and prepare Furniture Account in the
ledger.
2020
Jan. 1. Furniture purchased for cash 20,000
Jan. 5. Furniture sold for cash 2000
Jan. 12. Further Furniture purchased 8,000
Jan. 18. Purchased building for cash 1,000
Jan. 25 Furniture withdrawn from business for personal 2500​

Answer 1

Answer:

jan 1. furniture A/C -dr. 20000

To cash A/C. 20000

jan5. cash A/C-dr. 2000

To sales A/C. 2000

jan12. furniture A/C- dr. 8000

To cash A/C. 8000

jan18. building A/C -dr. 1000

To cash A/C. 1000

jan25. drawing A/C -dr. 2500

To furniture A/C. 2500