BANGLADESH INTERNATIONAL SCHOOL, DAMMAM

Chapter -2 Double entry book keeping -A

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Name:

Class: ID:

Q1. For each of the following transactions insert the name of the account to be debited and the name of
the account to be credited.

Transaction Account to be debited Account to be credited

a. Paid rent by cheque

b. Bought goods for cash
c. Paid cash for carriage on goods brought
d. Bought equipment on credit from WR Store
e. Sold goods on credit to Jones
f. Jones returned goods
g. The owner took goods for his own use

Q2. Define the following terms:

(a) Drawings :
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(b) Asset & Liabilities :

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(c) Carriage inwards:

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(d) Purchase return :

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(e) Balance sheet :

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Q2. Farhan started a business on 1 January 20-5. His transactions for the first month of trading were as
follows:

1january Capital , $20000 , was paid into a business bank account

Paid rent , $500, by cheque
2 January Bought goods, $3300, on credit from Khalid
4 January Returned goods, $100 , to Khalid
7 January Sold goods , $1700, on credit to Asif Traders
9 January Received $120 commission in cash
10 January Paid Khalid $3000 by cheque on account
12 January Asif Traders paid $ 1000 by cheque on account
13 January Paid sundry expenses in cash $20
14 January Cash sales , $1500
Cash withdrawn for personal use , $500

Pass necessary journal entries in the books of Farhan. Balance the cash account, the bank account, and
the account of Khalid and Asif traders on 14 January20-4 and bring down the balances on 15 January 20-
4

Journal entries in the books of Farhan

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 In the books of Farhan

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