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Head of Acc

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farhanfarooq6233
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13 views4 pages

Head of Acc

Uploaded by

farhanfarooq6233
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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ASSET LIABILITIES CAPITAL REVENUE EXPENSE

DR CR CR CR DR

CR DR DR DR CR

ASSET
PAY CASH TO ACC PAYABLE OF RS 100,000
DR CR
A/C PAYABLE 100,000
CASH 100,000

LIABILITIES
PURCHASED GOODS ON CREDIT OF RS 100,000
DR CR
INVENTORY 100,000
A/C PAYABLE 100,000

CAPITAL
STARTED BUSINESS WITH CASH 10,000 INVENTORY 40,000 MACHINE 50,000
DR CR
CASH 10,000
INVENTORY 40,000
MACHINE 50,000
CAPITAL 100,000

A debit is an accounting entry that creates a decrease in liabilities or an increase in assets


DECREASE LIABILITIES
INCREASE ASSETS

A credit is a record in accounting entries that will either decrease an asset or expense account or increase a liability
Decrease an asset
A STARTED BUSINESS WITH CASH RS 20,000 , BANK 30,000 , MACHINERY 25000 , BUILDING 150,000 AND A CAR 18
DR CR
CASH 20,000
BANK 30,000
MACHINERY 25,000
BUILDING 150,000
CAR 18,000
CAPITAL 243,000
A PURCHASED GOODS FROM ABC PVT LTD OF RS 7000 ON CASH
DR CR
INVENTORY 7,000
CASH - 7,000
A PURCHASED GOODS FROM SHAKEEL ON CREDIT OF 10,000
DR CR
INVENTORY 7,000
A/C PAYABLE SHAKEEL - 7,000

DEPOSITED CASH INTO BANK OF RS 20,000


DR CR
BANK 20,000
CASH - 20,000
BUILDING 150,000 AND A CAR 18,000
GENERAL JOURNAL

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