Accounting Transactions Exercises III

Accounting Transactions Exercises

TRANSACTIONS EXERCISES:

Transactions Question:

David started business with cash.
William purchased furniture from David to cash.
William paid for furniture to David.
David sold the machine to William for cash.
David received cash for sale.
William bought goods from David on credit.
Sold furniture to William by David on credit.
Cash deposit into Bank by David.
Withdraw cash from debit by William.
Withdraw cash from the Bank for personal uses.
Spent cash by David for office use.
William purchased fixed assets for business use to cash.
Paid to business promotion.
Paid interest.
Received rent as a cash.
Paid cash for furniture.
Paid wages.
Paid advertisement.
Received deduction as a Tax.
Paid cash for purchase.

Transactions Answers:

Cash a/c Dr.

to Capital a/c Cr.

Furniture a/c Dr.

to Cash a/c Cr.

Furniture a/c Dr.

to Cash a/c Cr.

Machine a/c Dr.

to Cash a/c Cr.

Cash a/c Dr.

to Sales a/c Cr.

Purchase a/c Dr.

to David a/c Cr.

William A/c Dr.

to Furniture a/c Cr.

Bank a/c Dr.

to David a/c Cr.

Cash a/c Dr.

to William a/c Cr.

Cash a/c Dr.

to Drawing a/c Cr.

Cash a/c Dr.

to David a/c Cr.

Purchase a/c Dr.

to Capital a/c Cr.

Cash a/c Dr.

to Direct expenses Cr.

Interest a/c Dr.

to Cash a/c Cr.

Rent a/c Dr.

to Cash a/c Cr.

Furniture a/c Dr.

to cash a/c Cr.

Wages a/c Dr.

to Cash a/c Cr.

Advertisement a/c Dr.

to Cash a/c Cr.

Deduction a/c Dr.

to Tax a/c Cr.

Purchase a/c Dr.

to Cash a/c Cr.

Real Account

Comments

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Tally & Tally.ERP9

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