State whether the following statements are true or false: (a) An amount paid for rent for the

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State whether the following statements are true or false:

(a) An amount paid for rent for the building occupied by the proprietor should be debited to rent account.

(b) Goods sold to Ahmed for cash 6000 should be posted to the debit side of Ahmed's A/c.

(c) Equipments sold for 12,000 should be posted to the credit side of Sales A/c.

(d) Cash received from Anil 7000 should be posted the credit side of Anil's A/c.

(e) Goods withdrawn by the proprietor for personal use should be debited Drawing's A/c.

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Financial Accounting For Hotels

ISBN: 9781259004940

1st Edition

Authors: Prasanna Kumar JP, Linda Nalini Danie, Mruthyunjaya V. Pagad

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