s on 1st January 2011 with a capital of $100,000 in cash.

On the same date he opened the bank account in ADCB and deposited $20,000

debit cash 80,000 nature deposit

bank 20,000 subject capital
credit capital 100,000 payment cash & bank

Bought goods for cash $70,000 nature bought/purchase

debit purchase 70,000 payment cash
credit cash 70,000

Sold goods to Steeve.Co (credit) 38,000 nature sold

debit Steeve.Co 38,000 subject sales
credit sales 38,000 payment Steeve Co

Sold goods for cash $9,000 nature sold

debit cash 9,000 subject sales
credit sales 9,000 payment cash

Steeve.Co paid by cheques 35,000 nature paid

debit bank 35,000 subject Steeve.Co
credit steeve.co 35,000 Payment Bank

Stationery bill paid by cheque 2,000 nature paid

debit stationery 2,000 sbject stationery
credit bank 2,000 payment bank

Telephone bill by cash 500

debit telephone bill 500 nature paid
credit cash 500 subject tel.bill
payment cash

Paid rent by cash 2,000

debit rent 2,000 nature paid
credit cash 2,000 subject rental
payment cash

Paid salaries by cash $3,000 nature paid

debit salary 3,000 subject salary
credit cash 3,000 payment cash

Withdraw cash personal use $5,000

debit drawing 5,000
credit purchase 5,000
 CAPITAL Steeve.Co
Debit Debit
Cash 80,000 Sales 38,000 Bank 35,000
Bank 20,000
Balance c/d 3,000
balance c/d 100,000 38,000 38,000
100,000 100,000

Cash Sales
Debit Credit Debit Credit
Capital 80,000 Purchase 70,000 Steeve.Co 38,000
Sales 9,000 Telephone 5,000 Cash 9,000
Rent 2,000 Balance c/d 47,000
Salaries 3,000 47,000 47,000
Drawing 5,000
Balance c/d 85,000 Stationery
85,000 85,000 Debit
Bank 2,000
Bank
Debit Balance c/d 2,000
2,000 2,000
Capital 20,000 Stationery 2,000
Steeve.Co 35,000 Telephone
Balance c/d 53,000 Debit
55,000 55,000 Cash 500

Purchase Balance c/d 500

Debit Credit 500 500
Cash 70,000
Rent
Balance c/d 70,000 Debit
70,000 70,000 Cash 2,000

Salaries Balance c/d 2,000

Debit 2,000 2,000
Cash 3,000

Balance c/d 3,000

3,000 3,000

Drawing
Debit
Cash 5,000
 Balance c/d 5,000
5,000 5,000