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  • Accounting Set o

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    prashant Humagain
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    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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    accounting set o

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    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    13 views1 page

    Accounting Set o

    Uploaded by

    prashant Humagain
    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    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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