Journal Test 7...

Amit commenced business introducing as his capital furniture worth Rs. 21,000, a car valued at Rs. 30,000 and Rs. 48,000 in cash. The journal entry for recording this would require ____________________.

The following comments ail relate to the recording process. Which of these statements is correct?

Which of the following actions reflects 'parent ego' as per the concept of Transactional Analysis?

Journal is book of _______________.

Sriram purchased a furniture for Rs. 6,000, the accounts affected from this transaction will be _________________.

Which of the following item is found in a Journal entry?
$$1$$. Date of each transaction
$$2$$. Rupee amount of each debit and credit
$$3$$. Explanation of each transaction.

Which of the following should be entered in the Journal?
(i) Payment for purchases
(ii) Fixtures bought on credit
(iii) Credit sale of goods
(iv) Sale of surplus machinery.

Which of the following are errors of principle?
(i) Motor expenses entered in Motor Vehicles account.
(ii) Purchases of machinery entered in Purchases account.
(iii) Sales of Rs. 250 to Varun completely omitted from books.
(iv) Sales to Raj entered in Amit's account.

________are passed in the general journal for transferring an item entered in one account to another account.

'A' owned Rs. 25,000 to 'B' 'A' becomes insolvent. 'B' got A's computer valuing Rs. 11,500 in his full settlement journal entry will be passed in the books of 'B'.