Accounting Transactions Exercises

Accounting transactions exercises

TRANSACTIONS EXERCISES:

Ø Ram sold goods to Mohan for cash.

Cash a/c Dr.

Sale ac Cr.

Ø Bought furniture from Ram to cash.

By furniture a/c Dr.

To cash a/c Cr.

Ø Purchase machine to cash from Ram.

By machine a/c Dr.

To cash a/c Cr.

Ø Mohan paid cash for purchase.

By purchase a/c Dr.

To cash a/c Cr.

Ø Cash deposit by Ram in to Bank.

By bank a/c Dr.

To cash a/c Cr.

Ø Withdraw cash from bank for office use.

By cash a/c Dr.

To bank a/c Cr.

Ø Sold furniture by Ram for cash to Mohan.

By cash a/c Dr.

To furniture a/c Cr.

Ø Sold machine on credit to Mohan.

By Mohan a/c Dr.

To machine a/c Cr.

Ø Paid for advertisement.

Advertisement a/c Dr.

To cash a/c Cr.

Ø Receipt cash from Mohan for sale.

Cash a/c Dr.

Sale a/c Cr.

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Note: Accounting transactions exercises are most important to understand the subject. More transactions exercises in next articles.

Real Account

Comments

Tally & Tally.ERP9

TALLY T ally is a complete accounting package. It is used to maintain the all transaction as an account. In tally we can maintain all daily transactions as a sales account and purchase account. By the help of Tally we can create many accounts. In which include income & expenses account, profit & loss account, trading & non-trading account. We can also create trial balance or balance sheet. VERSION OF TALLY: 1. Tally 4.5 2. Tally 5.4 3. Tally 6.3 4. Tally 7.2 5. Tally 8.1 6. Tally 9.0 7. Tally ERP9 TYPE OF MODE: 1. Educational mode. 2. Professional mode. TYPE OF TALLY: 1. Tally Silver (Single user) 2. Tally Gold (Multi user) MASTER KEY: 1. Enter Ke...

PURCHASE RETURN | SALES RETURN | DEPRECIATION | APPRECIATION

Purchase Return: These transaction are those transaction in which customer have to return any purchase items or assets to supplier. Sales Return: These transaction are those transaction in which the customer have to sales return to supplier. full-width Depreciation: These amount are those amount which have to reduce according to the value of fixed assets. Appreciation: These amount are those amount which value have to increase of the fixed assets according to time period. Like: loan and building.

INCOME | CREDITOR | DEBTOR

INCOME These income are those income which have to receive for selling goods and services. Type of income: Direct Income These income are those income which have to receive to supplier for direct selling to cash. For example Sales for cash Assets for cash Service for cash, etc. Indirect Income These income are those income which have to receive indirectly. For example Discount receive Interest receive Commission Bonus Gift, etc. full-width Creditor: A person who takes the cash and gives the goods. Debtor: A person who gives the cash and receive the goods.

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