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Which of the following is not a business...

Which of the following is not a business transaction?
1) Bought furniture of 100000 for business
2) Paid for salaries of employess 5000
3) Paid sons fees from her personal bank accounts 20000
4) Paid sons fees from the business 2000

A

Bought furniture of 100000 for business

B

Paid for saleries of employess 5000

C

Paid sons fees from her personal bank accounts 20000

D

Paid sons fees from the business 2000

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The correct Answer is:
Paid sons fees from her personal bank accounts 20000
3) Paid sons fees from her personal bank accounts 20000
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Journalise the following transactions is the journal of M/s Goel Brothers and post them to the ledger. Jan. 01 Started business with cash 1,65,000 Jan. 02 Opened bank account in PNB 80,000 Jan. 04 Goods purchased from Tara 22,000 Jan. 05 Goods purchased for cash 30,000 Jan. 08 Goods sold to Naman 12,000 Jan. 10 Cash paid to Tara 22,000 Jan.15 Cash received from Naman 11700 Discount allowed 300 Jan. 16 Paid wages 200 Jan. 18 Furniture purchased for office use 5,000 Jan. 20 withdrawn from bank for personal use 4,000 Jan. 22 Issued cheque for rent 3,000 Jan. 23 goods issued for house hold purpose 2,000 Jan. 24 drawn cash from bank for office use 6,000 Jan. 26 Commission received 1,000 Jan. 27 Bank charges 200 Jan. 28 Cheque given for insurance premium 3,000 Jan. 29 Paid salary 7,000 Jan. 30 Cash sales 10,000

What will be the effect of the following on the Accounting Equation ? (i) Harish started business with cash Rs. 1,80,000. (ii) Purchased goods for cash Rs. 60,000 and on credit Rs. 30,000. (iii) Sold goods for cash Rs. 40,000 , costing Rs. 24,000. (iv) Rent paid Rs. 5,000, and rent outstanding Rs. 2,000. (v) Sold good on credit Rs. 50,000 (costing Rs. 38,000). (vi) Salary paid in advance Rs. 3,000.

NCERT-INTRODUCTION TO ACCOUNTING-All Questions
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  17. Enumerate main objectives of accounting.

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  18. INTERESTED USERS OF INFORMATION

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