Double entry rule

The owner increased his capital with R21 000. Receipt no. 23.

• Debit Capital; Credit Bank

• Debit cash; Credit Bank

• Debit Capital contribution; Credit debtors

• Debit Bank; Credit Capita

Paid R23 out of Petty cash for delivery costs. Petty cash voucher no.11.

• Debit trading stock; Credit Petty cash

• Debit Petty cash; Credit delivery cost

• Debit petty cash; Credit Bank

• Debit trading stock; Credit delivery cost

Made an ATM withdrawal to pay the wages of the week, R480.

• Debit Bank and credit Wages

• Debit Bank and credit Drawings

• Debit Drawings and credit Bank

• Debit Wages and credit Bank

Sold goods on credit to R. Rood for R900 (cost price R550), invoice no. 34.

• Debit Sales and credit Cost of sales

• Debit sales (R900) and credit Debtors control (R900) AND Debit cost of sales (R550) and credit trading stock (R550)

• Debit Debtors control (R900) and credit Sales (R900) AND Debit cost of sales (R550) and credit trading stock (R550)

• Debit sales (R900) and credit Trading stock (R900) AND Debit cost of sales (R550) and credit Debtors control (R550)

Bought stock on credit from Theron Ltd., R26 900.

• Debit Creditors control and credit trading stock

• Debit Trading stock and credit Creditors control

• Debit Debtors control and credit trading stock

• Debit Creditors control and credit cost of sales