Double Dipping Strictly Confidential

Table of Contents

Cover Page
Practice 1
Practice 2

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 Practice 1

Assets (Own) Liabilities (Owe) Equity

Increase Asset Debit Increase Liability Credit Increase Shares Credit

Decrease Asset Credit Decrease Liability Debit Decrease Shares Debit

Increase Revenue Credit

Decrease Revenue Debit

Increase Expense Debit

Decrease Expense Credit

Scenario What DR/CR

1 Increase Cash
2 Increase Vehicle
3 Increase Loan
4 Increase Share Capital
5 Increase Expense

Practice Exercise - Double Dipping Page 2 of 3

 Practice 2

Assets (Own) Liabilities (Owe) Equity

Increase Asset Debit Increase Liability Credit Increase Shares Credit

Decrease Asset Credit Decrease Liability Debit Decrease Shares Debit

Increase Revenue Credit

Decrease Revenue Debit

Increase Expense Debit

Decrease Expense Credit

Scenario What DR/CR

1 Decrease Cash Asset Credit

2 Decrease Loan Liability Debit
3 Increase Revenues Equity Credit
4 Decrease Equipment Asset Credit
5 Decrease Share Capital Equity Debit

Practice Exercise - Double Dipping Page 3 of 3