The owner of the business takes Rs 100 cash for his family. The proper journal entry for this transaction is: Options: A . &nbspDrawings A/c Dr To Cash A/c B . &nbspOwner A/c Dr To Cash A/c C . &nbspCash A/c Dr To Drawings A/c D . &nbspNone of these

The owner of the business takes Rs 100 cash for his family. The proper journal e

Question

The owner of the business takes Rs 100 cash for his family. The proper journal entry for this transaction is:

Options:

A . Drawings A/c Dr To Cash A/c

B . Owner A/c Dr To Cash A/c

C . Cash A/c Dr To Drawings A/c

D . None of these

Answer: Option A
:
A
The correct entry would be
DrawingsA/cDr
To Cash A/c

Was this answer helpful ?

Next Question

Question 1. Payment of salaries to employees should be debited to ___.....

Question 2. Decrease in capital will be shown on _______ side of capital account.....

Question 3. Which of the following is not another name for journal?....

Question 4. Discount allowed to a debtor should be credited to ___.....

Question 5. Which of the following will be credited in a journal, if a business purchases goods on credit?....

Question 6. Which of the following account will be credited incase of increase in balances of respective accounts?....

Question 7. Income received in advance but not earned will appear in the balance sheet as ___.....

Question 8. Which of the following is not an asset?....

Question 9. Payment of electricity expense of a particular month is ___.....

Question 10. To decrease the balance in the Land account, would you debit the account or would you credit the account?....

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI

Tabulation - Test Paper 2 Data Interpretation Reasoning & DI

Test Paper 1 Direction Sense Test Reasoning & DI

ICA , RDIC,GFM Free Modal Test Paper - Non - Technical Branch Old Syllabus 2022 - SAIL Junior Officer E0

GFM Combined 1 Free Revision Test SAIL JO E-0