Ch4.3 Double Entry Rules Recording Intermediate

Paid furniture by cash

• Dr Cash in hand, Cr Fixtures and fittings

• Dr Fixtures and fittings, Cr Cash in hand

• Dr Equipment, Cr Cash at bank

• Dr Furniture, Cr Trade payable

Received rent by cheque

• Dr Rent expense, Cr Cash at bank

• Dr Cash at bank, Cr Rent income

• Dr Rent expense, Cr Cash in hand

• Dr Cash in hand, Cr Rent income

Purchased goods from supplier on credit

• Dr Inventory, Cr Cash at bank

• Dr Inventory, Cr Cash in hand

• Dr Inventory, Cr Trade payable

• Dr Trade payable, Cr Inventory

Return goods to credit supplier

• Dr Cash at bank, Cr Inventory

• Dr Inventory, Cr Cash in hand

• Dr Inventory, Cr Trade payable

• Dr Trade payable, Cr Inventory

Sold goods $150 to customer on credit. The cost of goods is $80

• Dr Cost of sales $150, Cr Sales Revenue $150, Dr Trade receivable $80, Cr Inventory $80

• Dr Trade Receivable $150, Cr Sales Revenue $150, Dr Inventory $80, Cr cost of sales $80

• Dr Trade receivable $150, Cr Sales Revenue $150, Dr Cost of sales $80, Cr Inventory $80

• Dr Trade receivable $150, Cr Inventory $150, Dr Cost of sales $80, Cr Sales Revenue $80

Sold Office equipment for cheque

• Dr Cash at bank, Cr Office equipment

• Dr Office equipment, Cr Cash at bank

• Dr Furniture, Cr Cash at bank

• Dr Office equipment, Cr Cash in hand

Withdrew from cash from bank for office use

• Dr Office equipment, Cr Cash at bank

• Dr Cash at bank, Cr office equipment

• Dr Drawings, Cr Cash at bank

• Dr Cash in hand, Cr Cash at bank

Withdrew from cash from bank for personal use

• Dr Office equipment, Cr Cash at bank

• Dr Cash at bank, Cr office equipment

• Dr Drawings, Cr Cash at bank

• Dr Cash in hand, Cr Cash at bank

Deposit cash into bank

• Dr Cash at bank, Cr Cash in hand

• Dr Cash at bank, Cr Capital

• Dr Drawings, Cr Cash at bank

• Dr Cash in hand, Cr Cash at bank

Deposit personal cash into business bank

• Dr Cash at bank, Cr Cash in hand

• Dr Cash at bank, Cr Capital

• Dr Drawings, Cr Cash at bank

• Dr Cash in hand, Cr Cash at bank