Unit-4 Accounting Process and Rules
This unit explains stages in accounting process, different classes of accounts, the principle of double entry, and the rules of debit and credit.
Ram had the following transactions. Determine that accounts to be debited and credited:
a)Command business with cash 1,00,000
b)Purchased goods for cash 15,000
c)Paid for advertisement 600
d)Bought goods from P & Co. on credit 20,000
e)Sold goods for cash 6000
f)Sold goods to Z on credit 12,000
g)Paid commission 900
h)Paid salaries 8000
i)Paid rent 600
j)Loan taken from Hirala 50,000
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