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Accounting Set o

The document shows a transaction ledger for a business with assets, liabilities, and equities sections. It records 7 transactions - purchasing furniture and machinery, withdrawing and receiving cash, making credit and cash sales, and paying rent and wages. The transactions update the balances in the ledger, with assets decreasing from an opening balance of -$2000 and liabilities and equities balances changing as income, expenses and financing items are recorded.

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prashant Humagain
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36 views1 page

Accounting Set o

The document shows a transaction ledger for a business with assets, liabilities, and equities sections. It records 7 transactions - purchasing furniture and machinery, withdrawing and receiving cash, making credit and cash sales, and paying rent and wages. The transactions update the balances in the ledger, with assets decreasing from an opening balance of -$2000 and liabilities and equities balances changing as income, expenses and financing items are recorded.

Uploaded by

prashant Humagain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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A B C D E F G H I J K L M

1
2 Assets Liabilities equities
3 transaction bank&cash fixed assetpre-payment loan payables advance i + capital sto retained earning
4 1 purchased furniture -2000 2000
5 beginning equation -2000 2000 0 0 0 0 0 0 0 0 0
6
7 2 purchased machinery on credit 10000 10000
8 new eqn -2000 12000 0 0 0 10000 0 0 0 0 0
9
10 3 cash withdrawn -2000
11 2000
12 new eqn -2000 12000 0 0 0 10000 0 0 0 0 0
13
14 4 cash sales 6000
15 -6000
16 new eqn -2000 12000 0 0 0 10000 0 0 0 0 0
17
18 5 credit sales 2000 -2000
19 new eqn -2000 12000 0 0 0 12000 0 0 -2000 0 0
20
21 6 paid rent -2500 -2500
22 new eqn -4500 12000 0 0 0 12000 0 0 -4500 0 0
23
24 7 paid wages -1500 -1500
25 final eqn -6000 12000 0 0 0 12000 0 0 -6000 0 0
26
27 soln
28 date particulars dr/cr debit credit
29 3 cash a/c dr 25000
30 bank loan cr 25000
31 (being loan taken)
32 3 cash a/c dr 20000
33 bank a/c cr 20000
34 (being cash withdrawn)
35 6 rent a/c dr 4400
36 prepaid rent a/c dr 600
37 cash cr 5000
38 12 boat reapired a/c dr 5620
39 cash a/c cr 5620
40 (being boat repaired)
41 18 cash a/c dr 2830
42 boat reapired a/c cr 2830
43 (being boat repaired)
44 20

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