Question 1 Identify the accounts and the debit/credit entries to be made in the ledger to record each of the following transactions. Example: Sold goods on credit to Sally a. Bought goods for sale on credit from Ali. b. Paid carriage on the goods purchased, in cash. c. Owner’s private car brought into the business. d. Bought office equipment on credit from Bakar. e. Received a cheque from Sally. f. Cash sales. g. Paid wages to workers by cheque. h. Bank loan from RHB. i. Paid personal computer with the company cheque. j. Returned goods to Ali.

Question 1 Identify the accounts and the debit/credit entries to be made in the ledger to record each of the following transactions. Example: Sold goods on credit to Sally a. Bought goods for sale on credit from Ali. b. Paid carriage on the goods purchased, in cash. c. Owner’s private car brought into the business. d. Bought office equipment on credit from Bakar. e. Received a cheque from Sally. f. Cash sales. g. Paid wages to workers by cheque. h. Bank loan from RHB. i. Paid personal computer with the company cheque. j. Returned goods to Ali.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter9: Adjusting Entries

Section: Chapter Questions

Problem 7Q

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