unit-4-accounting-process-and-rules

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.

From the following transactions determine the accounts affected, classify them and state whether it is to be debited or credited.                                                                                              Rs.

a) Purchased typewriter for cash                                                                                    5,000

b) Purchased furniture from R & Co. on credit                                                               50,000

c) Interest received                                                                                                         300

d) Paid wages                                                                                                                 800

e) Received cash from A                                                                                                 2,000

f) Additional capital introduced into the business                                                            5,000

g) Paid cash to B                                                                                                             1,500

h) Paid carriage                                                                                                               200

i) Purchased goods from F & Co. on credit                                                                    12,000

j) Sold goods for cash                                                                                                     1,400





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Written on Apr 17, 2019 3:41:14 PM