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

Drawings A/c Dr
To Cash A/c

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Owner A/c Dr
To Cash A/c

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Cash A/c Dr
To Drawings A/c

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None of these

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Solution

The correct option is A
Drawings A/c Dr
To Cash A/c

The correct entry would be
Drawings A/c Dr
To Cash A/c

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Ram starts a business and his first act is to bring in a cash of Rs 1,00,000 of his own money. The dual aspect of this transaction is that:

Business paid rent amounting to Rs 1000, which of the following special journals shall record this transaction?

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