For recording interest on Drawings, Drawings Account is
Debited
Credited
Both a & b
None of the above
Purchased furniture for cash, state the nature of account.
Personal A/c
Nominal A/c
Real A/c
Which column represents a cross reference to simplify the tracing of entries from Journal to ledger ?
Date column
Particular column
Ledger folio
Depreciation on fixed asset Rs. 500. Find out which account will be debited.
Fixed assets A/c
Cash A/c
Depreciation A/c
Bank A/c
Withdrew cash from office for personal use in this transaction which account should be credited ?
Drawing A/c
Goods sold for Rs 5000 to Mohan.
Cash transaction
Credit transaction
Both a and b
Goods given as free samples Rs. 15000. Which account will be credited.
Purchase A/c
Advertising A/c
Which account is meant for recording returns of goods sold by the customers ?
Purchased A/c
Sales A/c
Purchase return A/c
Sales return A/c
