Question

furniture purchase for rs.5000​

Answer 1

Answer:

Given Transaction :-

• Furniture purchase for Rs 5000.

To Find :-

• Journalise the following transactions.

Solution :-

Given Transaction :

✭ Furniture purchase for Rs 5000.

Here, the two accounts will be Furniture A/c and Cash A/c

➵ Furniture A/c - Assets - Real Account - What comes - Debit (Dr.)

➵ Cash A/c - Assets - Real Account - What goes out - Credit (Cr.)

So, the transaction will be :

➲ Furniture A/c . . . . . . Dr. 5000

➲ To Cash A/c 5000

Narration :

(Being furniture purchase with cash)

EXTRA INFORMATION :-

✭ Golden Rules :

❐ Personal Accounts :

➸ Debit - Receiver

➸ Credit - Giver

❐ Real Accounts :

➸ Debit - What comes in

➸ Credit - What goes out

❐ Nominal Accounts :

➸ Debit - Expenses, Loss

➸ Credit - Income, Gain

❐ Valuation Accounts :

➸ Debit - When accounts to be decreased

➸ Credit - When accounts to be increased

Answer 2

Explanation:

Assets =. capital + liabilities

Furniture 5000.

Cash 5000