Page 349 - Microsoft Word - 00 BA3 IW Prelims STUDENT.docx

Answers to questions

Example 3

Required:

Post the debit and credit entries identified in Example 2 into the
appropriate ledger accounts.

Example 3: Solution
Cash

Dr $ Cr $
Day 1 Capital 1,000 Day 2 Motor vehicles 400
Day 3 Loan 1,000 Day 4 Purchases 300

Capital
Dr $ Cr $
Day 1 Cash 1,000

Motor vehicles
Dr $ Cr $
Day 2 Cash 400

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