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 Assets DR

2 Increase Vehicle Assets DR
3 Increase Loan Libilitis CR
4 Increase Share Capital Equity CR
5 Increase Expense Equity DR

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 Assets CR

2 Decrease Loan Libilitis DR
3 Increase Revenues Equity CR
4 Decrease Equipment Assets CR
5 Decrease Share Capital Equity DR

Practice Exercise - Double Dipping Page 3 of 3