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TOPIC 4:
DOUBLE - ENTRY
RECORDING
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THE ABOUT

MASTERY

CHAPTER
ANALYSIS EXAM

WEIGHTAGE

2
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KEY CONCEPTS

DOUBLE-ENTRY RECORDING
LEDGER ACCOUNTS
DISCOUNTS
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Debit Credit

Assets Liability

Expenses Capital

Drawings Income
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Journal

Date Particulars Debit Credit

$ $
2021

Jan 1 Cash at bank 1000

Capital 1000

Jan 2 Inventory 400

Cash at bank 400

Jan 3 Inventory 600

Trade payables - A 600

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• Owner contributed $1000 into the business bank account.

• Business bought goods worth $400 by cheque.
• Business bought goods worth $600 on credit.

Cash at bank account

Date Particulars Debit Credit Balance

$ $ $

2021

Jan 1 Capital 1000 1000 Dr

Jan 2 Inventory 400 600 Dr

Feb 1 Balance b/d 600 Dr

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Trade Discounts Cash discounts

Reduction to the Reduction to the

list price invoiced amount

Encourage Encourage
customers to customers to
buy in bulk pay early

Not recorded in Is recorded in

the ledger the ledger
account account
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