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

LIABILITY | EXPENSE

LIABILITY: These liability are those liability which have to pay by the proprietor for long time or sort time. Liability are two type: Current Liability These liability are those liability which have to pay by the proprietor for soft term to own business out sides investors, shares holders, soft term loan or creditors, etc. Fixed Liability These liability are those liability which have to pay by the proprietor for long term to own business, partners, debenture or long term loan. EXPENSE: These expenses are those expenses which have to spend by the proprietor for business activities. These are two type: Direct expenses: These expenses are those expenses which have to spend by the proprietor directly. For examples: Carriage - in & out word Fright Transport Tax Fuel Wages Posts and stamp Rent, etc. Indirect expenses These expenses are those expenses which have to spend by the proprietor indirectly for business purpose. For examples: full-width Advertisement Books & Stati...

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.

How to gain weight

Gain weight How to gain weight Follow these tips to increase weight, Possible to increase 4 kg within a month: Take high calorie foods in the diet Take high calorie foods in the diet O ne of the most important things to keep in mind is that you should consume high calorie foods. Eating high calorie foods means that you will have to consume more calories here than you consume in calories. This helps to gain weight quickly. Speaking of high calorie foods, it includes granola, meats, tofu, fish, avocado, milk, beans, and sweet potatoes. Eat less fried food Eat less fried food T he most important thing to keep in mind when gaining weight is to keep in mind that you don't have to eat more fatty foods. During the calorie dense foods you eat to gain weight, eating any food made with more oil can also affect your digestive system. This will spoil the diet routine that is taken during your physical condition and you may also face difficulties in gaining weight. Therefore, try not to consume...

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