Posted by Anonymous on Sunday, October 31, 2010 at 3:30am.
From the following transactions, state which account will be debited and which account will be credited by filling up the appropriate boxes.
S.No. Transactions Accounts
involved Application Reason with respect to
Rules of Debit and
Example Mr. X started business
with cash of Rs.100,000 Cash
Credit Increased in asset
Increased in Owners Equity
1 Bought machinery for
cash Rs.50,000 ?
2 Payment made to XYZ
Store Rs. 10,000 by
3 Purchased office
furniture on credit for
Rs. 15,000 ?
4 Rs. 1,000 received as a
rent for the portion of
office building rented
5 Paid salaries of
Rs.40,000 by cheque ?
Answer this Question
More Related Questions
- accounting - From the following transactions, state which account will be ...
- accounting - from the following transactions state which account will be debited...
- accounting - transactions 1.bought machinery for cash rs.50,000 2.payment made ...
- accounting - The Fast Delivery Service submitted the transactions given below. ...
- Principles of Accounting - E2-2 Selected transactions for D. Reyes, Inc., an ...
- Principles of Accoun ting - I have to figure out what basic type of account ...
- accounting - In accounting for an immaterial amount of overapplied overhead, ...
- RE: accounting - When posting a journal entry how would I post the following. ...
- Accounting - . Classify the following items as (a) an addition to the bank ...
- accounting - Andy, an inexperienced accountant, had to account for his company's...