Question
what is the debit and what the credit ? Jan 2 Brought additional capital into business Jan 31 Purchased goods and paid by Cheque 10,000
what is the debit and what the credit ?
Jan 2 Brought additional capital into business
Jan 31 Purchased goods and paid by Cheque 10,000
Feb 1 Deposited into bank 35,000
Feb 2 Cash Sales 20,000
Mar 1 Sold goods to Al-Batina International Engineering & Services and offered 10% trade discount 25,000
Mar 2 Purchased goods from Majis Industrial Services Company and got 5% trade discount 12,000 Mar 31 Withdrew from bank 10,000 Apr 1 Goods returned to Majis Industrial Services Company 2,000
Apr 2 Sold furniture worth of RO 4000 for RO 3200
May 1 Paid Carriage Outwards 2,000
May 2 Goods returned by Al-Batina International Engineering & Services 2,500
May 31 Withdrew from bank for personal use 4,000
June 1 Goods distributed as free samples 3,000
June 2 Paid Wages by cheque 12,000
July 1 Received from Al-Batina International Engineering & Services by cheque 10,000
July 2 Sold goods to SPT Middle East Company and offered 10% cash discount 18,000
July 31 Purchased Equipment from Larsen & Toubro Heavy Engineering LLC 50,000
Aug 1 Received from Sohar International Urea & Chemical Industries in full settlement 23,000
Aug 2 Goods taken by proprietor for personal use 2,500
Aug 31 Purchased goods from Sharq Sohar Steel Rolling Mills 8,000
Sep 1 Received rent by cheque 6,500
Sep 2 Paid Steinweg Oman L.L.C by cheque 10,000
Oct 1 Received from Al-Batina International Engineering & Services in full settlement 9,000
Oct 2 Paid Majis Industrial Services Company in full settlement
8,200
Oct 31 Paid Salaries
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started