AL REEYADA INTERNATIONAL SCHOOL

MAHASEN, ARAMCO
ACCOUNTING-8
S.Y.2021-2022

Practice Worksheet: Chapter 2

NAME:___________________________________________ROLL NO.__________

Note: Print and bring on 7 November 2021 without an answer. Kindly bring your
ledgers for your answer.

I. Dana started a business on December 1, 2020 with a capital of $85,000 which

was paid in the business bank account.

2- Purchased Equipment $ 4,500 and paid by cheque.

3- Bought goods $ 5,000 on credit from MC Traders.

4- Cash sales $2,500.

6- Paid rent $ 500 in cash.

7- Returned goods $500 to MC Traders.

10- Paid MC Traders by cheque .

12- Withdrew cash for personal use $600.

15- Sold goods on credit $ 1,500 to Roan.

17-Paid general expenses $ 300 in cash.

20- Received cash from Roan in settlement of her account.

Required: Enter these transactions in the ledger of Dana. Balance the bank
account, cash account, MC trader’s account and Roan Account. Bring down the
balances on 31 December 2020.

II. Answer the practice questions on page 61

1. Question no. 1 to 4 on page 61

2. Question no. 7 on page 63