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Thread: “financial accounting – 1 (mgt101)

  1. #1

    27 “financial accounting – 1 (mgt101)

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    Assignment No. 01 Marks: 15
    From the following transactions, state which account will be debited and
    which account will be credited by filling up the appropriate boxes.



    Important Tips
    1. This Assignment can be best attempted from the knowledge acquired after
    watching video lecture no. 1 to lecture no. 10 and reading handouts as well as
    recommended/reference books).
    2. Video lectures can be downloaded for free from YouTube - vu's Channel.
    S.No. Transactions Accounts
    involved
    Application Reason with respect to
    Rules of Debit and
    Credit
    Sample
    Example
    Mr. X started business
    with cash of Rs.100,000
    Cash
    Capital
    Debit
    Credit
    Increased in asset
    Increased in Owners Equity
    1 Bought machinery for
    cash Rs.50,000
    ?
    ?
    ?
    ?
    ?
    ?
    2 Payment made to XYZ
    Store Rs. 10,000 by
    cheque.
    ?
    ?
    ?
    ?
    ?
    ?
    3 Purchased office
    furniture on credit for
    Rs. 15,000
    ?
    ?
    ?
    ?
    ?
    ?
    4 Rs. 1,000 received as a
    rent for the portion of
    office building rented
    out.
    ?
    ?
    ?
    ?
    ?
    ?
    5 Paid salaries of
    Rs.40,000 by cheque
    ?
    ?
    ?
    ?
    ?
    ?
    pls chk attachemnt

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  2. #2
    help solving it pls thnx

  3. #3
    Administrator Xpert's Avatar
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    dear student you have to share something then we are able to help you out.

  4. #4
    Meanssss ???????? i just want the solution for tht question

  5. #5
    Administrator Xpert's Avatar
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    but you also can participate here. solution will be provided but the main thing that you learn it.

  6. #6
    .....................................

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