Financial Accounting 1

Double entry of cash sales

• Dr. Cash

  Cr. Sales

• Dr. Sales

  Cr. Cash

• Dr. Bank

  Cr. Sales

• Dr. Sales

  Cr. Bank

Double entries of the business buying a van with cheque

• Dr. Bank

  Cr. Van

• Dr. Van

  Cr. Cash

• Dr. Motor Vehicle

  Cr. Bank

• Dr. Motor Vehicle

  Cr. Cash

Double entries of: an owner investing cash into the business and bank in the money to the bank

• Dr. Owner

  Cr. Bank

• Dr. Bank

  Cr. Owner

• Dr. Cash

  Cr. Capital

• Dr. Bank

  Cr. Capital

Double entries of selling goods on credit to Ali

• Dr. Ali

  Cr. Sales

• Dr. Bank

  Cr. Sales

• Dr. Ali

  Cr. Bank

• Dr. Ali

  Cr. Cash

Double entries of buying goods with cash from Abu

• Dr. Purchases

  Cr. Abu

• Dr. Purchases

  Cr. Cash

• Dr. Abu

  Cr. Purchases

• Dr. Cash

  Cr. Purchases