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Question
State whether the following statement is True or False with reasons:
Personal transactions of proprietor are recorded in the books of account of the business.
Options
True
False
Solution
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Prepare Chart showing Analysis of the following transaction in a Tabular form according to Modern Approach.
1. Mr. Meghraj started the business with cash of ₹ 30,000.
2. Deposited cash into Bank of India ₹ 2,000.
3. Withdrew cash ₹ 1,000 for personal use.
4. Purchased goods on credit from Nilesh ₹ 2,000.
5. Cash purchases ₹ 3,000.
6. Paid Wages ₹ 400.
7. Purchased a chair for office use ₹ 3,200.
8. Sold goods to Mohan worth ₹ 1,200.
9. Withdrew Cash for Office use ₹ 3,000.
10. Sold old furniture ₹ 9,000.
11. Received Dividend of ₹ 1,000.
12. Paid for Printing bill book ₹ 200.
Prepare Chart showing Analysis of the following transaction in a Tabular form according to Modern Approach.
- Mr. Meghraj started the business with cash of ₹ 30,000.
- Deposited cash into Bank of India ₹ 2,000.
- Withdrew cash ₹ 1,000 for personal use.
- Purchased goods on credit from Nilesh ₹ 2,000.
- Cash purchases ₹ 3,000.
- Paid Wages ₹ 400.
- Purchased a chair for office use ₹ 3,200.
- Sold goods to Mohan worth ₹ 1,200.
- Withdrew Cash for Office use ₹ 3,000.
- Sold old furniture ₹ 9,000.
- Received Dividend of ₹ 1,000.
- Paid for Printing bill book ₹ 200.
Prepare Chart showing Analysis of the following transaction in a Tabular form according to Modern Approach.
- Mr. Meghraj started business with cash ₹ 30,000.
- Deposited cash into Bank of India ₹ 2,000.
- Withdrew cash ₹ 1,000 for personal use.
- Purchased goods on credit from Nilesh ₹ 2,000.
- Cash purchases ₹ 3,000.
- Paid Wages ₹ 400.
- Purchase a chair for office use ₹ 3,200.
- Sold goods to Mohan worth ₹ 1,200.
- Withdrew Cash for Office use ₹ 3,000.
- Sold old furniture ₹ 9,000.
- Received Dividend of ₹ 1,000.
- Paid for Printing bill book ₹ 200.
