Homework Help: accounting

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
Credit
Sample
Example Mr. X started business
with cash of Rs.100,000 Cash
Capital Debit
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
cheque. ?
? ?
? ?
?

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
out. ?
? ?
? ?
?

5 Paid salaries of
Rs.40,000 by cheque ?
? ?
? ?
?

accounting - SraJMcGin, Sunday, October 31, 2010 at 11:18am
Here are some accounting tutorials that may be handy for you to have:

http://search.yahoo.com/search?fr=mcafee&p=accounting+tutorial

Sra

Answer this Question

Related Questions

accounting - From the following transactions, state which account will be ...
accounting - transactions 1.bought machinery for cash rs.50,000 2.payment made ...
accounting - from the following transactions state which account will be debited...
Principles of Accounting - E2-2 Selected transactions for D. Reyes, Inc., an ...
Accounting - . Classify the following items as (a) an addition to the bank ...
accounting - The Fast Delivery Service submitted the transactions given below. ...
Principles of Accoun ting - I have to figure out what basic type of account ...
accounting - Tracy Migre, a certified public accounting, has completed the ...
math - I need help with these questions please. Could someone please check them ...
i need help accounting - Tracy Migre, a certified public accounting, has ...

For Further Reading

First Name:
School Subject:
Answer: