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Double entry method By this method any transaction has 2 sides

Double entry method By this method any transaction has 2 sides 1_ DR. side : if any DR. account got increased this is the correct place to put, on the other hand if any CR. Account got decreased also this is the correct place.

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Double entry method By this method any transaction has 2 sides

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  1. Double entry method By this method any transaction has 2 sides 1_ DR. side : if any DR. account got increased this is the correct place to put, on the other hand if any CR. Account got decreased also this is the correct place. 2_ CR. Side : if any CR. Account got increased this is the correct place, on the other hand if any DR. Account got decreased also this is the correct place. How D.E. look like ?

  2. The company purchased goods of 3,000 USD in cash. Goods & cash are the accounts that had been involved in this transaction Goods is DR. acc. And it increased so it will remain in DR. side as we said Cash is DR. acc. Also but it decreased so CR. Side it will be it place Notify : that we are not changing the nature of acc. We just changing the nature of its amounts remember that.

  3. The company had paid this month salary 10,000 USD from it bank account. Req. record the event above by using D.E. method

  4. The company purchased goods of 15,000 USD on credit from golden gate for trading. Req. record the event above by using D.E. method

  5. The company received a check of 5,000 USD for its services that provided to IMD company. Req. record the event above by using D.E. method

  6. The company’s owner make a deposit in his company’s bank account of 10,000 as a personal support for his company. Req. record the event above by using D.E. method

  7. The company sold goods of 20,000 USD, the company received a check of 20,000 USD Req. record the event above by using D.E. method

  8. The company purchased goods of 8,000 USD they paid half of the goods amount in cash and the rest of goods cost paid from its bank acc. Req. record the event above by using D.E. method

  9. In April the first L.O.K. company for maintenance services started it business, with capital of 1,000,000 USD divided as follow : 100,000 in bank, 50,000 cash, 400,000 building, 200,000 land, 150,000 spare parts, 50,000 office equipments, 50,000 furniture. 3/April the company received a check of 15,000 from digital corner com. For maintenance services our com. Provided. 7/April the company paid 1,500 for pantry items in cash

  10. 9/April the company had paid the electricity bill of 500 by it bank account. 13/April the company received a check of 13,000 for its services. 17/April the company provided a service of 7,000 USD to ABC company but the ABC company promised to by its due amount after a week later. 21/April the company purchased spare parts of 5,000 from IBM company on credit. 27/April the company paid the monthly salary of 6,000 USD from it bank account. Req. : Journalize events above.

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