What is the journal entry of good use for own office

1.	What is the journal entry of good use for own office
Answer» Answer: Given "Goods taken for office use" This transaction affects two accounts Purchases a/c , cash a/c..where Purchases is a nominal account(all expenses incomes gains losses come under nominal account) , cash is a REAL account.(All assets and Liabilities come under Real account).. The Three GOLDEN rules of accounting are Personal account - Debit the receiver , credit the giver Real account - Debit what comes in, credit what GOES out Nominal account- Debit All expenses and losses, credit all incomes and Gains As Per the above rules..since Purchase is expense should be debited and cash is going out should be credited.... The Journal Entry will be.. Purchases a/c. Dr. xxxx To cash a/c xxxx (Being Goods Purchased for cash) Explanation: mark me as a Brainliest PLS

Answer»

Answer:

Given "Goods taken for office use"

This transaction affects two accounts Purchases a/c , cash a/c..where Purchases is a nominal account(all expenses incomes gains losses come under nominal account) , cash is a REAL account.(All assets and Liabilities come under Real account)..

The Three GOLDEN rules of accounting are

Personal account - Debit the receiver , credit the giver

Real account - Debit what comes in, credit what GOES out

Nominal account- Debit All expenses and losses, credit all incomes and Gains

As Per the above rules..since Purchase is expense should be debited and cash is going out should be credited....

The Journal Entry will be..

Purchases a/c. Dr. xxxx

To cash a/c xxxx

(Being Goods Purchased for cash)

Explanation:

mark me as a Brainliest PLS

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