Accounting Transactions
Accounts to be debited
Accounts to be credited
Example:
Started a business with RM50,000 cash in the bank as capital.
Bank RM50,000
Capital RM50,000
1.
Started business and invested RM80,000 cash in the business.
Cash RM80,000
Capital RM80,000
2.
Deposited RM25,000 cash into a bank account.
Bank RM25,000
Cash RM25,000
3.
Purchased office equipment amounting to RM8,200 by cheques.
Office Equipment RM8,200
Bank RM8,200
4.
The owner took cash that amounted to RM2,200 from the business for her personal use.
Drawing RM2,200
Cash RM2,200
5.
Received purchase invoice from Oren Supply amounting to the net of RM15,100. Received a discount of RM900 from Oren Supply.
Accounts Payable RM14,200
Discount Received RM900
Purchase RM15,100
6.
Sold goods to Cutie Pie Sdn. Bhd. for RM12,000 and received cheque immediately.
Cash RM12,000
Sales RM12,000
7.
Purchased a new machine at the cost of RM8,850 through cash.
Machine RM8,850
Cash RM8,850
8.
The owner adds another RM45,000 cash to the company as capital.
Cash RM45,000
Capital RM45,000
9.
The owner issued a cheque to his name for his house monthly installment amounted to RM1,800.
House Monthly Installment RM1,800
Cash RM1,800
10.
Returned goods previously purchased from Oren Supply amounting to RM400.
Accounts Payable RM400
Purchase Returns RM400
