Question 1 Identify the accounts and the debit/credit entries to be made in the ledger to record each of the following transactions. Example: Sold goods on credit to Sally a. Bought goods for sale on credit from Ali. b. Paid carriage on the goods purchased, in cash. c. Owner’s private car brought into the business. d. Bought office equipment on credit from Bakar. e. Received a cheque from Sally. f. Cash sales. g. Paid wages to workers by cheque. h. Bank loan from RHB. i. Paid personal computer with the company cheque. j. Returned goods to Ali.
Question 1 Identify the accounts and the debit/credit entries to be made in the ledger to record each of the following transactions. Example: Sold goods on credit to Sally a. Bought goods for sale on credit from Ali. b. Paid carriage on the goods purchased, in cash. c. Owner’s private car brought into the business. d. Bought office equipment on credit from Bakar. e. Received a cheque from Sally. f. Cash sales. g. Paid wages to workers by cheque. h. Bank loan from RHB. i. Paid personal computer with the company cheque. j. Returned goods to Ali.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 1
Identify the accounts and the debit/credit entries to be made in the ledger to record each of the following transactions.
Example: Sold goods on credit to Sally
a. Bought goods for sale on credit from Ali.
b. Paid carriage on the goods purchased, in cash.
c. Owner’s private car brought into the business.
d. Bought office equipment on credit from Bakar.
e. Received a cheque from Sally.
f. Cash sales.
g. Paid wages to workers by cheque.
h. Bank loan from RHB.
i. Paid personal computer with the company cheque.
j. Returned goods to Ali.
Transcribed Image Text:Debit
Sally
Credit
Sales
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