TUTORIAL DOUBLE ENTRY BT12203 Business Accounting

FPEP UMS

1. Complete the columns to the effect of their increase or decrease or no effect of the following
transactions.

Owners
No. Transactions Asset Liability
Equity

We pay a creditor RM 50 in cash

1

Bought furniture RM 200 paying by

2 cheque

Bought goods on credit RM 100

3

The owner brought RM 1,000 cash into

4 the business

An account receivable pays us RM 500

5 by cheque

Pay electricity bill RM 120 by cash

6

Pay telephone bill RM 350 using online

7 banking facility

The owner takes RM 500 for his

8 personal use

The business pay an account payable

9 RM 50 by cheque

The owner paid his sons tuisyen fees

10 using the companys cheque

Sold goods to Ahmad on credit

11

1
TUTORIAL DOUBLE ENTRY BT12203 Business Accounting
FPEP UMS
2. You are required to show the effect of the following transactions on the accounting equation using the
format given below:

Example: Rose started business with cash in bank RM 35,000.

Assets Expenses Drawings Liabilities Capital Revenues

Bank Capital
Increase Increase
RM 35,000 RM 35,000

i. Purchased goods from Ginseng Sdn. Bhd. worth RM 2,600 on credit basis.
ii. Rose used the company cheque RM 1,700 for his personal use.
iii. Sold goods to Sunflower Ltd. amounted RM 1,400 and received cheque.
iv. Paid Avon RM 700 for office rent by cash.
v. Paid Ginseng Sdn. Bhd. by cheque RM 2,600 for the goods bought earlier.
vi. Rose puts RM 3,000 cash into the business.
vii. Sunflower Ltd. bought goods from the company RM 600 on credit.

No. Assets Expenses Drawings Liabilities Capital Revenues

ii

iii

iv

vi

vii