Question no: 1

a) Complete the following table

Capital Asset Liabilities

A 35000 3100

4000 2000

11500 18000

D 13500 10000

E 25000 30000

b) Complete the following table

No Assets liabilities Income Expenses

1 computer

2 cash at bank

3 insurance

4 discount received

5 bank over draft

6 cash in hand

7 furniture

8 sundry expenses

9 rent received

10 office equipment

11 motor van
The following transactions are from the business of Eelaaf Ltd.
Identify the debit and credit of the following transactions.

2022 Transactions Accounts to be debited $ Accounts to be credited $

June 1
Introduced Capital $95,000 by
cheque
June 2
Purchased goods on credit
from Anaal for $8,000
June 3 Bought a van $10,000 for cash

June 5
Sold goods on credit to Mishal
for $700

June 6 Cash Purchases $300

June 8
Purchased goods on credit
from Yaana $1,600

June 9 Paid Anaal $7,000 by cheque

June 11 Paid wages $960 by cheque

June 12 Paid rent bycash $80

Sold goods on credit to Atheek

June 15
$1,600

June 17 Mish'al returned goods, $700

June 22
Paid light and heat by cheque
$400

June 23 Purchased delivery van by

cheque $8,000
June 28
Paid carriage outward $1,000
by cash
June 29 Drawings by cheque $450

June 30
Eelaaf took goods costing $500
for own use
 Question no: 8 2 B
The followingtransactions are from the business of Amra Ltd.
Identify the debit and credit of the following transactions.

2023 Transactions Accounts to be debited $Accounts to be credited $

June 1
IntroducedShare Capital
$100,00, money was lodged
Purchased goods for cash
June 2
$50,000

June 3 Cash Sales $4,500

June 5 Cash Purchases $6,500

June 6 Paid wages by cheque $38,000

June 8
Purchased Delivery Account by
cheque $65,000

Paid light and heat by cheque

June 10
$350

June 14 Drawings by cheque $30,000

June 19
Debtor, Jeem returned goods
$5,400
Returned goods to creditor
June 23
Zoya $3,200

June 28 Paid Zoya by cheque $540

Sold goods on credit to Jeem

June 30
$700
 On 1July 2023 Aaif started a business. The following are his transactions for the first twO weeks of
trading:
July 1Aaif paid capital, $50000, into the business bank account
2 Bought premises, $25 000, and paid by cheque
4 Bought equipment, $4 000, and paid by cheque
6 Bought goods, $1 500, on credit from Dhayyan Traders
7Paid advertising expenses, $60, by cheque
9Sold goods, $200, and received a cheque
12 Sold goods, $310, on credit,to Eashan
13 Eashan returned damaged goods, $20
14 Paid $1 000 by cheque on account to Dhayyan Traders

Enter these transactions in the ledger of Aaif. Balance the bank account and the accounts of
Dhayyan Traders and Eeshan on 14 July and bring down the balances on 15 July 2023.

Question no: 4

The following account appeared in the ledger of Aflaah stores.

Maleeh Wholesalers account
Date Details $ Date Details

2023 2023
May 17 Returns 120 May 1 Balance b/d 180

20 Bank 300 10 Purchases 410

31 Balance cld 170

590 590

Explain each entry in this account and also state where the double entry for each entry will be found.
 Question no: 5
Shaffan is a trader. On 1 October 2023 he had the following balances in his ledger:
$
Capital 15 000
Inventory 3400
Fixtures and fittings 10 100
Trade receivable- Shayaal 1110
Trade payable - Maiesh 1760
Loan from Yoosuf Finance 2 000
Bank 4 150 debit

The following transactions took place in October 2023:

October 2 Bought goods on credit from Maiesh, $1 500
7 Returned goods to Maiesh, $80
10 Repaid the loan by cheque
14 Paid Maiesh a cheque for the amount owing on 1October 2023
21 Cash received from sales of goods, paid directly into the bank, $940
28 Shaffan took goods for his own use, $140
30Shayaal paidthe amount due by cheque

Enter these transactions in Shaffan's ledger. Start with the opening balances and balance the bank
account and Maiesh's account and bring down the balances on 1November 2023.