Journal Folio or J.F. is the page number of the journal from where the posting has been transferred in the ledger. This page number of the journal is recorded in the ledger in J.F. column.
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Proprietor of the firm has withdrawn goods for his personal use. The accountant has recorded it as sale in the books of accounts. Is he correct in doing so?
On $31^{\text {st }}$ March, $2019,$ the total assets and external liabilities were $₹ 2,00,000$ and $₹ 6,000$ respectively.
During the year, the proprietor had introduced capital of $₹ 20,000$ and withdrawn $₹ 12,000$ for personal use. He made a profit of $₹ 20,000$ during the year. Calculate the capital as on $1^{\text {st }}$ April, $2018.$
Hari gifted a set of six. T-Shirts (made in his Garments factory) to one of his friend. In which accounts this transaction should be debited and credited?