Home
Class 11
ACCOUNTS
A purchase of machine for cash should be...

A purchase of machine for cash should be debited to:
1)Cash account
2)Machine account
3)Purchase account
4)None of these

A

Cash account

B

Machine account

C

Purchase account

D

None of these

Text Solution

Verified by Experts

ii
Promotional Banner

Topper's Solved these Questions

  • RECORDING OF TRANSACTIONS-I

    NCERT|Exercise Question for practise|10 Videos
  • RECORDING OF TRANSACTIONS-I

    NCERT|Exercise Long|7 Videos
  • RECORDING OF TRANSACTIONS-I

    NCERT|Exercise Fill in the blanks IV|7 Videos
  • INTRODUCTION TO ACCOUNTING

    NCERT|Exercise All Questions|35 Videos
  • RECORDING OF TRANSACTIONS-II

    NCERT|Exercise RECORDING, POSTING AND BALANCING|2 Videos

Similar Questions

Explore conceptually related problems

Rectify the following errors : (a) Furniture purchased for  10,000 wrongly debited to purchases account. (b) Machinery purchased on credit from Raman for  20,000 was recorded through purchases book. (c) Repairs on machinery  1,400 debited to machinery account. (d) Repairs on overhauling of secondhand machinery purchased  2,000 was debited to Repairs account. (e) Sale of old machinery at book value of  3,000 was credited to sales account.

Pass the necessary Journal entries to rectify the following errors: (i) Rs. 15,000 paid as wages for the construction of office building debited to Salaries Account. (ii) Rs. 20,000 spent on the purchases of material for the construction of building debited to Purchases Account. (iii) Rs. 50,000 spent on the extension of building was debited to Building Repairs Account. (iv) Rs. 25,000 spent on whitewash of a new building was charged to Building Repairs Account. (v) Rs. 1,000 paid as installation charges for newly purchased second hand machinery posted to Cartage Account. (vi) Rs. 10,000 paid as repairing charges on the reconditioning of a newly purchased second hand machinery debited to General Expenses Account. (vii) Rs. 5,000 paid as repairing charges of an existing machine in use charged to Machinery Account. Rs. 10,000 paid by cheque for a printer was charged to the Office Expenses Account.