lecture 6

Double Entry System Questions
  • Cash borrowed from X RS10,000
cash a/c - reala/c 
mr.x       -personal a/c
  • Machinery purchased Rs. 30,000
machinery -real a/c
cash          -real a/c

  • machinery purchased from Z on credit Rs. 10,000
machinery -real a/c
mr. z         -personal a/c

  • money lent to mr. v rs 5,000
mr.v    -personal a/c
cash    -real a/c

  • salary paid rs. 5,000
salary - nominal a/c
cash   -real a/c 

  • commission received rs. 1000 
cash                        -real a/c
commission received-nominal a/c   
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