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Recording and Posting 1 Answer Sheet

The document contains 5 exercises that provide accounting transaction examples using double entry bookkeeping. Exercise 1 lists 10 transactions alternating between debit and credit sides. Exercise 2 lists 8 transactions with debit and credit columns. Exercise 3 contains 10 transactions recorded on dates with debit and credit columns. Exercise 4 contains 7 transactions recorded on dates in December with debit and credit columns. Exercise 5 contains 6 transactions recorded on dates with debit and credit columns.

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83 views4 pages

Recording and Posting 1 Answer Sheet

The document contains 5 exercises that provide accounting transaction examples using double entry bookkeeping. Exercise 1 lists 10 transactions alternating between debit and credit sides. Exercise 2 lists 8 transactions with debit and credit columns. Exercise 3 contains 10 transactions recorded on dates with debit and credit columns. Exercise 4 contains 7 transactions recorded on dates in December with debit and credit columns. Exercise 5 contains 6 transactions recorded on dates with debit and credit columns.

Uploaded by

Jan Bernadette Alejandro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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EXERCISE 1

1 Double Entry Method


2 Debit Side
3 Credit Side
4 Credit Side
5 Debit Side
6 Credit Side
7 Credit Side
8 Credit Side
9 Credit Side
10 Debit Side

EXERCISE 3
DATE ACCOUNT TITLE/EXPLANATION F DEBIT CREDIT
1 Cash 500,000
Mel's Capital 500,000

2 Office Suppplies 12,000


Cash 12,000

3 Furniture and Fixtures 1,200,000


Accounts Payable 1,200,000

4 Office Equipment 85,000


Cash 85,000

5 Office Equipment 36,000


Mel's Capital 36,000

6 Loans Payable 200,000


Cash 200,000

7 Machinery and Equipment 400,000


Cash 400,000

8 Acounts Payable 1,200,000


Cash 1,200,000

9 Mel's Drawing 16,000


Cash 16,000

10 Prepaid Rent 20,000


Cash 20,000

=3,669,000 =3,669,000
EXERCISE 2
Debit Credit
1 Cash
2 Prepaaid Expense
3 Supplies Expense
4 Accounts Payable
5 Supplies Expense
6 Supplies Expense
7 Loans Payable
8 Owner's Drawing

EXERCISE 4
DATE ACCOUNT TITLE/EXPLANATION F DEBIT CREDIT
December
1 Cash 300,000
Vehicle-Motorcycle 150,000
To record the initial investment 450,000

5 Office Equipment 20,000


Cash 20,000
To record the project

6 Office Supplies 2,500


Accounts Payable 2,500
To record the purchase of an account

11 Prepaid Rent 60,000


Cash 60,000
To record the advance payment of rent

15 Cash 50,000
Loans Payable 50,000
To record the down payment

17 Prepaid Insurance 4,600


Cash 4,600
To record the payment of insurance

19 Neri's Drawing 7,500


Cash 7,500
To record the Cash widthdraw

25 Office Supplies 20,000


Cash 20,000
To record the paid Liability for the purchase
31 Furniture and Fixtures 17,300
Cash 17,300
To record the Purchase
=631900 =631900
EXERCISE 5
DATE ACCOUNT TITLE/EXPLANATION F Debit Credit
Cash 550,000
Piece of Land 450,000
Jamelle's Capital 1,000,000
To record Initial Investment

Cash 6,000
Accounts Payable 6,000
To record the Supplies Bought

Cash 470,000
Building 470,000
To record the construction used for Office building

Office Equipment 42,000


Accounts Payable 42,000
To record the Purchase of Office Equipment

Furnitures and Fixtures 51,000


Accounts Payable 51,000
To record the Puchase of Furnitures on account

Jemellee's Drawing 13,000


Cash 13,000
To record the Cash widthdraw
=1582000 =1582000

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