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JC Bookkeeping Exer

JC Business Studies Bookkeeping Exercise

QuestionAnswer
Light and heat is a Dr because it is a Expense
Stock is a Dr because it is a Asset
Telephone is a Dr because it is a Expense
Purchases returns is a Cr because it is a Thing given
Equipment is a Dr because it is an Asset
10-year loan is a Cr because it is a Liability
Delivery expenses is a Dr because it is an Expense
Rent received is a Cr because it is a Gain
Land and buildings is a Dr because it is an Asset
Sales returns is a Dr because it is a Thing received
Purchases is a Dr because it is a Thing received
Bank current a/c is a Dr because it is an Asset
Furniture and fittings is a Dr because it is an Asset
Bank deposit a/c is a Dr because it is an Asset
Wages and salaries is a Dr because it is an Expense
Bank overdraft is a Cr because it is a Liability
Machinery is a Dr because it is an Asset
Rent paid is a Dr because it is an Expense
Motor vehicles is a Dr because it is an Asset
Sales is a Cr because it is a Thing given
Moloney Ltd purchased a display unit from AB Furniture Supplies Ltd and paid by cheque. Dr Furniture Account Cr Bank Account
Moloney Ltd purchased a delivery van from Elton Garages and paid by cheque. Dr Delivery van Account Cr Bank Account
Moloney Ltd purchased a computer system (equipment) from Office Supplies Ltd and paid by cheque. Dr Equipment Account Cr Bank Account
Moloney Ltd purchased chocolate and cake mix from Mandy's Wholesale and paid in cash. Dr Purchases Account Cr Cash Account
Moloney Ltd purchased cardboard cake packing cases from LT Paper Products and paid by cheque. Dr Purchases Account Cr Bank Account
Moloney Ltd sold cakes for cash. Dr Cash Account Cr Sales Account
Moloney Ltd sold cakes and received payment by cheque. Dr Bank Account Cr Sales Account
Moloney Ltd sold an old oven for cash. Dr Cash Account Cr Equipment Account
Moloney Ltd paid wages by cheque. Dr Wages Account Cr Bank Account
Moloney Ltd paid an electricity bill in cash. Dr Electricity Account Cr Cash Account
Moloney Ltd received a commission from Celebration Cakes Ltd and lodged the cheque to the bank. Dr Bank Account Cr Commission Received Account
Moloney Ltd paid their insurance premium by cheque. Dr Insurance Account Cr Bank Account
Moloney Ltd paid for repairs to their computer system by cheque. Dr Repairs Account Cr Bank Account
Moloney Ltd received a loan from Easy Terms Financial Services and lodged the cheque to their bank account. Dr Bank Account Cr Loan Account
Created by: MrFromholz