Rs 12000/- paid to buy mobile phone for sale.
Mobile phone account
Purchase account
Furniture account
Sales account
Rs 5,00,000/- paid to acquire a lorry for business use.
Capital account
Motor vehicle account
Transport account
Drawings account
Pick up the odd one.
Trade mark
Patents account
Goodwill
Cash
A cash book with cash, bank and discount column is commonly referred as:
Cash book
Two column cash book
Three column cash book
Petty cash book
Accounting entries for the repayment of a loan received from Arjun, the owner's friend:
Debit cash account and Credit capital account
Credit cash account and Debit capital account
Credit cash account and Debit Arjun's loan account
Debit cash account and Credit Arjun's loan account
According to the rules of debt and credit, on what side the increase of rent paid account will be recorded?
It is not recorded.
Find out the causes of popularity of double entry.
No accuracy before making of trial balance
Preparation of trial balance
Not suitable for small business
All of the above