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Jan. 25 Furniture withdrawn from business for personal 2500​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:

furniture a/c...dr 20,000

To cash a/c. 20,000

cash a/c...dr 2000

To sale a/c. 2000

furniture a/c...dr 8000

To cash a/c. 8000

Building a/c...dr 1000

To cash a/c 1000

drawing a/c dr.... 2500

To cash a/c. 2500