Double-Entry Practice Question 02

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Question

Record the following transactions that occurred in the month of March in ledger accounts.

March

  1. Introduced capital by the owner Rs. 200 000
  2. Cash purchases Rs. 50 000
  3. Paid the monthly rental Rs. 10 000
  4. Cash sales Rs. 70 000
  5. Purchased goods on credit (credit purchases) Rs. 80 000
  6. Withdrew money by the owner for personal use Rs. 10 000
  7. Paid monthly salaries Rs. 20 000
  8. Obtained a bank loan Rs. 200 000
  9. Invested in a fixed deposit Rs. 10 000
  10. Credit sales Rs. 60 000

Answer

Categories: Accounting

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