Question

Purchased furniture-75000, purchased machinery-200000, rent oaid-2500, received commission-12000, received cash from company-20000, addition capital-100000, paid cash-18000, paid carriage-3000, goods purchased on credit-10000, goods sold for cash-25000, classify whether it is to be debited or credit.

Answer 1

purchased furniture will be dr.

machinery dr..

rent paid dr.

rec'd comm dr.

rec'd cash from co. cr.

additional capital cr.

paid cash and paid cartage ...dr.

goods purchased on cr. dr.

goods sold ..cr....

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