FA1 Topic 3&4 v1

Balance for ASSETS

• Debit

• Credit

Started business with RM5,000 cash in the bank

• Dr Bank

  Cr Capital

• Dr Cash

  Cr Capital

• Dr Capital

  Cr Bank

• Dr Capital

  Cr Cash

Purchased goods worth RM500 on credit.

• Dr Purchase

  Cr Creditor

• Dr Goods

  Cr Creditor

• Dr Purchase

  Cr Debtor

• Dr Goods

  Cr Debtor

Received rent fee by online banking transfer

• Dr Bank

  Cr Rent received

• Dr Rent

  Cr Bank

• Dr Cash

  Cr Rent received

• Dr Rent

  Cr Cash

Balance for drawing and office equipment.

• Drawing : Debit

  Office Equipment : Debit

• Drawing : Credit

  Office Equipment : Debit

• Drawing : Debit

  Office Equipment : Credit

• Drawing : Credit

  Office Equipment : Credit

Sold goods & received payment by QR code.

• Dr Bank

  Cr Sales

• Dr Cash

  Cr Sales

• Dr Sales

  Cr Bank

• Dr Sales

  Cr Cash

Send credit notes to Abby.

• Dr Sales Return

  Cr Debtor-Abby

• Dr Purchase Return

  Cr Debtor-Abby

• Dr Creditor-Abby

  Cr Purchase Return

• Dr Creditor-Abby

  Cr Sales Return

Send invoice to Jack.

• Dr Debtor-Jack

  Cr Sales

• Dr Creditor-Jack

  Cr Sales

• Dr Purchase

  Cr Creditor-Jack

• Dr Purchase

  Cr Debtor-Jack

Purchase stationery by cheque.

• Dr Stationery

  Cr Bank

• Dr Purchase

  Cr Bank

• Dr Bank

  Cr Stationery

• Dr Bank

  Cr Purchase

Paid full settlement to creditor by cheque.

• Dr Creditor

  Cr Bank

• Dr Creditor

  Cr Cash

• Dr Bank

  Cr Creditor

• Dr Cash

  Cr Creditor