Page 77 - Microsoft Word - 00 BA3 IW Prelims STUDENT.docx

Ledger accounting and double-entry bookkeeping

Example 4: Solution
Capital
Dr $ Cr $

Cash
Dr $ Cr $
01-May Capital 20,000 02-May Bank 15,000
12-May Sales 210 07-May Wages 60
25-May Sales 430 22-May Purchases 3,900
28-May Sales 890 24-May Fittings 600
25-May Wages 110
30-May Drawings 100

Bank

Dr $ Cr $
02-May Cash 15,000 10-May Rent 80
27-May SP 330 16-May Furniture 1,500
24-May Carriage out 25
27-May Carriage in 20
28-May Advertising 25

Purchases
Dr $ Cr $
04-May JM 2,000
06-May ERD 3,000
22-May Cash 3,900

71