Accouting 1

Debits and credits , Fixed asset , Balance sheet

Task 1
Sr.No.| Particulars| AccountDebited| AccountCredited|
a.| Company’s old machinery was sold for cash| Cash| Machinery| b.| Received rent by cheque| Bank| Rent Received|
c.| Paid advertising by cheque| Advertising| Bank|
d.| Bought stationery on credit from Yu Trading| Stationery| Yu Trading| e.| Paid machinery expenses by cheque| Machinery expenses| Bank| f.| Proprietor withdrew cash from bank for personal use| Drawings| Bank| g.| Proprietor brought in his private car for use by the company| Motor & Vehicles| Capital| h.| Cash withdrawn from bank for business use| Cash| Capital| i.| Received cash from Lin for amount due| Cash| Lin|

j.| Discount received in cash| Cash| Discount Received|

Task 2
2012| Transaction| Document|
Dec 1| Started business with $25,000 in the bank.| Bank Statement| 2| Bought goods on credit from Arvind $2,840 and Ashok $3,600.| | 3| Sold goods to for cash $7,000.| |
4| Lewis lent us $4,000 in cash.| |
6| Took $1,250 of the cash and paid it into the bank.| | 8| Sold goods on credit to C Moody $180 and J Newman $ 2,220.| | 12| We returned goods to Arvind $1,040 and Ashok $1,100.| | 14| Bought motor van on credit from General Motors $26,000.| | 15| Bought office furniture on credit from Quick Supplies Ltd. $2,600.| | 18| Bought goods for cash $2,200.| |

20| Goods returned to us by C.Moody $30 and J.Newman $220.| | 24| Returned some office furniture costing $600 to Quick Supplies Ltd.| | 26| Paid General Motors $26,000 by cheque.| |
31| Wages paid in cash $500 to the employee for the month of December.| | Task 3
Date| Particulars| Folio| Debit(RM)| Credit (RM)|
2012December 1| Bank A/CDrTo Capital A/C(Being business started)| | 25,000| 25,000| 2| Purchased A/CDrTo ArvindTo Ashok(Being goods bought on credit)| | 6,440| 2,8403,600| 3| Cash A/CDrTo Sales A/C(Being goods sold on...
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