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Double Entry System Tutorial Guide

The document outlines a series of transactions for a business in December 2019, detailing the double entry system for assets, liabilities, and capital. Key transactions include starting capital, receiving a loan, purchasing goods, and making repayments. Each transaction affects the accounting equation, reflecting changes in cash, bank, and liabilities.

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Siti Nor Fatin Ahmad Fodzi
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6 views1 page

Double Entry System Tutorial Guide

The document outlines a series of transactions for a business in December 2019, detailing the double entry system for assets, liabilities, and capital. Key transactions include starting capital, receiving a loan, purchasing goods, and making repayments. Each transaction affects the accounting equation, reflecting changes in cash, bank, and liabilities.

Uploaded by

Siti Nor Fatin Ahmad Fodzi
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

TUTORIAL 5 DOUBLE ENTRY

QUESTION 5

Write up the double entry system for assets, liabilities and capital.

2019

Dec 1 Started business with RM750 cash and RM9,000 in the bank.

2 Received a loan of RM12,000 from BMB Bank by cheque.

3 Bought a goods for cash RM600.

5 Bought goods on credit from Clearcount Ltd RM420.

8 Took RM200 out of the bank and put it in the cash till.

15 Repaid part of Baline’s loan by cheque RM500.

17 Paid amount owing to Clearcount Ltd RM420 by cheque.

24 Repaid part of Belanie’s loan by cash RM250.

31 Bought a printer on credit from Jones for RM200.

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