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  • Accounting Assignment #1

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    UsmanAhmedCheema
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    This document contains a balance sheet with asset and liability accounts for a business. It also lists transactions that occurred throughout a period. The transactions are recorded by increasing or decreasing specific asset and capital/liability accounts. The totals at the bottom show the balance sheet is still balanced after recording all the transactions.

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    Accounting assignment #1

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    This document contains a balance sheet with asset and liability accounts for a business. It also lists transactions that occurred throughout a period. The transactions are recorded by increasing or decreasing specific asset and capital/liability accounts. The totals at the bottom show the balance sheet is still balanced after recording all the transactions.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    3 views1 page

    Accounting Assignment #1

    Uploaded by

    UsmanAhmedCheema
    This document contains a balance sheet with asset and liability accounts for a business. It also lists transactions that occurred throughout a period. The transactions are recorded by increasing or decreasing specific asset and capital/liability accounts. The totals at the bottom show the balance sheet is still balanced after recording all the transactions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Assignment #1 Q # 14 Name:

    Assets Rs. Liabilities Rs.


    Cash 3300 Creditors ? 3050
    Debtors 1900 Owners Equity 12000
    Supplies 1700
    Tools 2550
    Truck 5600

    Qestions
    1 Paid one month rent Rs. 400
    2 Purchased supplies with cash Rs. 100
    3 Paid to Creditors Rs. 500
    4 Purchased tools on credit Rs. 350
    5 Fee earned and collected Rs. 900
    6 Purchased new tools for cash Rs.200
    7 Complete a work for Ahmed on Credit Rs. 210
    8 Received in partial collection of accounts receivable Rs. 650

    Assets Capital Liability


    Cash Debtors Supplies Tools Truck Owner Equity Payable
    3300 1900 1700 2550 5600 12000 3050
    1 -400 -400
    2 -100 100
    3 -500 -500
    4 350 350
    5 900 900
    6 -200 200
    7 210 -210
    8 650 -650
    Totals 3650 1460 1590 3100 5600 12500 2900
    Assets = 15400 Capital + Liability = 15400

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