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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
From the following transactions, state which account will be debited and which account will be credited by filling up the appropriate boxes. S.No. Transactions Accounts involved Application Reason with respect to Rules of Debit and Credit Sample Example Mr. X started business with cash of Rs.100,000 Cash Capital Debit Credit Increased in asset Increased in Owners Equity 1 Bought machinery for cash Rs.50,000 ? ? ? ? ? ? 2 Payment made to XYZ Store Rs. 10,000 by cheque. ? ? ? ? ? ? 3 Purchased office furniture on credit for Rs. 15,000 ? ? ? ? ? ? 4 Rs. 1,000 received as a rent for the portion of office building rented out. ? ? ? ? ? ? 5 Paid salaries of Rs.40,000 by cheque ? ? ? ? ? ?
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