Ghanshyam is a furniture dealer. which one of the following will not be recorded in the books?
Purchase of timer for Rs. 10,000
Incorrect Answersofa set worth Rs. 20,000 taken to his home
Incorrect Answersale of household futniture for Rs. 2,000
Correct Answerdining table of Rs. 15,000 given to his friend as gift.
Incorrect AnswerExplanation:
sale of household futniture for Rs. 2,000 is a not a business trasaction, because he sold his personal furniture which is not related to business at all. hence not be recoerded
Purchase of timer for Rs. 10,000 (purchased for business), sofa set worth Rs. 20,000 taken to his home (Drwaings), dining table of Rs. 15,000 given to his friend as gift (Drawings). All these transactions are related to business, hence must be recorded
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By: SWAPNIL AGGARWAL