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Answer Exercise 4 - Double Entry

This document provides examples of double-entry bookkeeping transactions. There are 13 transactions described that show debits and credits to various asset, liability, equity, expense, and revenue accounts. The purpose is to demonstrate the double-entry system where every transaction affects at least two accounts with equal and offsetting entries.

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59 views2 pages

Answer Exercise 4 - Double Entry

This document provides examples of double-entry bookkeeping transactions. There are 13 transactions described that show debits and credits to various asset, liability, equity, expense, and revenue accounts. The purpose is to demonstrate the double-entry system where every transaction affects at least two accounts with equal and offsetting entries.

Uploaded by

2022897562
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Answer : Exercise 4 - Double Entry

Transactions Effect Double Entry


1
Increase Asset Dr Cash a/c
Increase Equity Cr Capital a/c

2
Increase Asset Dr Bank a/c
Decrease Asset Cr Cash a/c

3
Increase Expenses Dr Purchase a/c
Decrease Asset Cr Cash a/c

5
Increase Expenses Dr Purchase a/c
Increase Liability Cr Payable a/c - Wong

6
Increase Asset Dr Receivable a/c - Cutie
Increase Revenue Cr Sales a/

7
Increase Asset Dr Cash a/c
Increase Revenue Cr Sales a/

8
Decrease Liability Dr Payable a/c - Wong
Decrease Expenses Cr Return Outward

9
Increase Expenses Dr Rent a/c
Decrease Asset Cr Bank a/c

10
Decrease Revenue Dr Return Inward a/c
Decrease Asset Cr Receivable a/c - Cutie

10
Increase Asset Dr Motor Van a/c
Increase Liability Cr Payable a/c - Jaya Motor

11
Decrease Liability Dr Payable a/c - Wong
Decrease Expenses Cr Return Outward

12
Increase Expenses Dr Wages a/c
Decrease Asset Cr Cash a/c

13
Increase Asset Dr Bank a/c
Increase Liability Cr Loan a/c - Koperasi Sdn Bhd

28
Increase Asset Dr Bank a/c
Decrease Aasset Cr Cash a/c

30
Decrease Equity Dr Drawings a/c
Decrease Expenses Dr Purchase a/c

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