Goods taken from business for personal use by the proprietor should be credited to

Related MCQs

• A withdrawal of cash from business by the proprietor should be credited to
• A withdrawal of cash from the business by the proprietor should be Credited to:
• If unsold goods costing 20,000 is taken over by venturer at 15,000, the joint venture account will be credited by
• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• X of Delhi send out certain goods at cost + 25% of cost. Invoice value of goods is 1,20,000. 4/5th of the goods were sold by consignee at 1,00,000. Commission @ 2% up to invoice value and 10% of any surplus above invoice. The amount of commission will be
• Any donation received for a specific purpose should be credited to
• Payment of personal expenses of the owners of business need to be recorded as:
• Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit
• Any income arising from special fund will be credited to
• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?