Accountancy, asked by aimankmansoori12396, 1 month ago

furniture costing RS 5000 used in the furnishing of the office

Answers

Answered by alinasethi9
1

The journal entry is

furniture a/c Dr 500

to purchase a/c. (500)

(goods used for furnish the office)

Rationale

furniture is an asset and hence it is debited and purchase is also treated as real a/c and hence it is crated.

the rule is debit what comes in credit what goes out.

hope this help you

thank you

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