Bookkeeping

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Bookkeeping means recording the transactions which have any monetary

value. It is the business accounting process which is compulsory for every firm
or business to follow.

Answer

JOURNAL

Date Particular L.F. Debit (in $) Credit (in $)

1. Cash 100,000

Capital 100,000

(To record the capital invested)

2. Supplies expense 60,000

Cash 60,000

(To record the supplies purchased for cash)

3. Account receivable 400,000

Service revenue 400,000

(To record the service rendered on credit)

4. Cash 270,000

Account receivable 270,000

(To record the amount received from debtor)

5. Drawing 60,000
 Cash 60,000

(To record the amount withdrawn by owner)

6. Salary 180,000

Cash 180,00

(To record the salary paid)

Ledger

Cash Account

Dr.
Cr.

Date Particular Amount Date Particular Amount

1. Capital 100,000 2. Supplies expense 60,000

4. Account receivable 270,000 5. Drawing 60,000

6. Salary 180,000

Balance c/d 70,000

370,000 370,000
Capital account

Dr.
Cr.

Date Particular Amount Date Particular Amount

Balance c/d 100,000 1. Cash 100,000

100,000 100,000

Supplies expense

Dr.
Cr.

Date Particular Amount Date Particular Amount

2. Cash 60,000 Balance c/d 60,000

60,000 60,000

0
Account receivable

Dr.
Cr.

Date Particular Amount Date Particular Amount

3. Service rendered 400,000 4. Cash 270,000

Balance c/d 130,000

400,000 400,000

Service rendered

Dr.
Cr.

Date Particular Amount Date Particular Amount

Balance c/d 400,000 3. Account receivable 400,000

400,000 400,000
Drawing

Dr.
Cr.

Date Particular Amount Date Particular Amount

5. Cash 60,000 Balance c/d 60,000

60,000 60,000

Salary

Dr.
Cr.

Date Particular Amount Date Particular Amount

6. Cash 180,000 Balance c/d 180,000

180,000 180,000
Trial balance

Name of account Debit (in $) Credit (in $)

Cash 70,000

Capital 100,000

Supplies expense 60,000

Service rendered 400,000

Account receivable 130,000

Drawing 60,000

Salary 180,000

Total 500,000 500,000