Analysis of Business transaction

Sold good for cash, which account will be debited and which account will be credit

• Debited cash account credit sales account

• Debit sales account credit cash account

• Debit cash account credit purchase account

Sold goods on credit to Mr Shankar, which account will be debited and which account will be credited

• Debit Shankar account credit sales account

• Debit sales account credit Shankar account

• Debit Shankar account credit cash account

Purchase goods in cash from Mohanlal, which account will be debited and which account will be credited

• Debit purchase account credit Mohanlal account

• Debit Mohanlal account credit purchase account

• Debit purchase account credit cash account

Purchase goods on credit from Sham, which account will be debited and which account will be credit

• Debit purchase account credit cash account

• Purchase account credit bank account

• Debit purchase account credit Sham account

Ped salary to Raja, which account will be debited and which account will be credit

• Debit salary credit cash

• Debit salary credit Raja

• Debit Raja credit salary

Purchase laptop from AK traders

• Debit AK traders credit purchase

• Debit purchase credit AK traders

• Debit laptop credit AK traders

Paid electricity charges by cheque

• Debit electricity charges credit cash

• Debit bank credit electricity charges

• Debit Electricity charges credit Bank

Paid 7000 to Amar on account, which account will be debited and which account will be credit

• Debit Amar credit sales

• Debit Amar credit cash

• Credit cash debit customer

Which of the following is not an example of a Business Transaction?

• a. A purchase of supplies or raw material

• b. A sale of merchandise or services

• c. Attending wedding ceremony

• d. Payment of a bill in Accounts Payable

Which of the following is an example of a business transaction?

• a. A purchase of a personal dress.

• b. Payment of a home electricity bill.

• c. Receipt of a personal gift from a friend.

  .

• d. Receipt of a payment for an Accounts Receivable.