Double Entry Bookeeping

Purchased goods on credit from ABC Suppliers for RM5,000.

What is the double entry of above transaction?

• Debit - Accounts Payable,

  Credit - Purchase

• Debit - Purchases,

  Credit - Accounts Payable

• Debit - Cash,

  Credit - Accounts Receivable

• Debit - Accounts Receivable,

  Credit - Cash

Sold goods for cash, totaling RM3,000.

What is the double entry of above transactions?

• Debit - Cash,

  Credit - Accounts Receivable

• Debit - Accounts Payable,

  Credit - Cash

• Debit - Cash,

  Credit - Sales

• Debit - Sales,

  Credit - Cash

Paid rent of office for the month, RM1,200.

What is the double entry for above transaction?

• Utilities Expense - Debit,

  Accounts Receivable - Credit

• Office Supplies - Debit,

  Rent Payable - Credit

• Rent Expense - Credit,

  Cash - Debit

• Rent Expense - Debit,

  Cash - Credit

Bought office equipment on credit from XYZ Equipment Co., RM8,000.

What is the double entry of above transaction?

• Debit - Accounts Payable,

  Credit - Office Equipment

• Debit - Office Equipment,

  Credit - Accounts Payable

• Debit - Office Supplies,

  Credit - Accounts Payable

• Debit - Cash,

  Credit - Accounts Receivable

Sold a portion of the office equipment for $2,500 cash.

What is the double entry of above transaction?

• Credit - Cash,

  Debit - Office Equipment

• Credit - Sales,

  Debit - Cash

• Credit - Office Supplies,

  Debit - Cash

• Credit - Office Equipment,

  Debit - Cash

Discount received from supplier of RM40.

What is double entry of above transaction?

• Debit - Account Payable,

  Credit - Discount received

• Debit - Discount Received,

  Credit - Account Payable

• Debit - Account Payable,

  Credit - Purchase

• Debit - Cash,

  Credit - Discount received

Paid repair of machinery of RM300 by cash.

What is the double entry of above transaction?

• Debit - Machinery,

  Credit - Machinery Repair Expense

• Debit - Machinery Repair Expense,

  Credit - Cash

• Debit - Accounts Receivable,

  Credit - Machinery Repair Expense

• Debit - Machinery,

  Credit - Cash

The owner of Pak Abu Enterprise has withdrawn a cheque for RM1,000 to pay his family's medical insurance.

What is the double entry of above transaction?

• Debit - Bank

  Credit - Drawing

• Debit - Drawing

  Credit - Bank

• Debit - Insurance

  Credit - Bank

• Debit - Bank

  Credit - Insurance

A payment to Madina of RM1200 by cheque.

What is the double entry of above transaction?

• Debit - Madina

  Credit - Cash

• Debit - Medina

  Credit - Bank

• Debit - Bank

  Credit - Madina

• Debit - Madina

  Credit - Bank

Rental received by cash of RM500.

What is the double entry of above transaction?

• Rental Received - Debit,

  Cash - Credit

• Rental Expense - Debit,

  Cash - Credit

• Rental Received - Debit,

  Accounts Receivable - Credit

• Cash - Debit,

  Rental Received - Credit