Question

Q3. From the following transactions, determine the accounts affected, classify them and state whether it is to be debited or credited. Rs.
a Purchased typewriter for cash                     10,000
b Purchased furniture form R & Co. on credit  55,000
 c Interest received                                             5,00
d Paid wages                                                     1,000
e Received cash from ‘A’                                    15,00
f Additional capital introduced in to the business 5,00,000
 g Paid cash to ‘B’                                                    2,000
h Paid carriage                                                        5,00
i Purchased goods from F & Co. on credit     10,000
 j Sold goods for cash                                     2,000

Answer 1

a. typewriter......Dr
       To Cash

b. Furniture ac    Dr
    To R&Co

C. Cash/Bank ac    Dr
     To interest income

d. Wages ac  Dr
    To Cash

e. Cash dr
    To A

f.  Cash    Dr
     To Capital

g. B  Dr
     To Cash

Carriage ac    dr
   To Cash

Purchase     Dr
  To F & Co

Cash    Dr
   To Sales