Answer : Exercise 2

Transactions Effect Double Entry

1 Icrease Asset Dr Bank
Increase Equity Cr Capital

2 Increase Expenses Dr Purchase

Decrease Asset Cr Bank

3 Increase Asset Dr Receivable

Increase Revenue Cr Sales

4 Increase Asset Dr Cash

Increase Revenue Cr Sales

5 Icrease Asset Dr Vehicle

Increase Equity Cr Capital

6 Increase Expenses Dr Purchase

Increase Liability Cr Payable - Osman

7 Increase Asset Dr Bank

Increase Revenue Cr Sales

8 Increase Asset Dr Computer

Decrease Asset Cr Bank

9 Decrease Liability Dr Payable - Osman

Decrease Expenses Cr Return outward

10 Incease Expenses Dr Electricity

Decrease Asset Cr Cash

11 Decrease Revenue Dr Return Inward

Decrease Asset Cr Receivable - Amir