Accounting – 2.1 The double entry system of book-keeping | e-Consult
2.1 The double entry system of book-keeping (1 questions)
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Answer 1:
Cash Ledger Account
| Date | Particulars | Debit (£) | Credit (£) |
| 1st Jan 2023 | Balance b/d | 2,500 | |
| Throughout 2023 | Cash Receipts (Sales) | 15,000 | |
| 31st Dec 2023 | Balance c/d | 17,500 |
Inventory Ledger Account
| Date | Particulars | Debit (£) | Credit (£) |
| 1st Jan 2023 | Balance b/d | 3,800 | |
| Throughout 2023 | Purchases | 22,000 | |
| 31st Dec 2023 | Balance c/d | -10,200 |
Fixtures & Fittings Ledger Account
| Date | Particulars | Debit (£) | Credit (£) |
| 1st Jan 2023 | Balance b/d | 12,000 | |
| Throughout 2023 | No transactions | ||
| 31st Dec 2023 | Balance c/d | 12,000 |
Debtors Ledger Account
| Date | Particulars | Debit (£) | Credit (£) |
| 1st Jan 2023 | Balance b/d | 8,500 | |
| Throughout 2023 | Sales to Customers | 15,000 | |
| 31st Dec 2023 | Balance c/d | -6,500 |
Creditors Ledger Account
| Date | Particulars | Debit (£) | Credit (£) |
| 1st Jan 2023 | Balance b/d | 5,200 | |
| Throughout 2023 | Purchases from Suppliers | 20,000 | |
| 31st Dec 2023 | Balance c/d | -9,800 |
Loan from Bank Ledger Account
| Date | Particulars | Debit (£) | Credit (£) |
| 1st Jan 2023 | Balance b/d | 10,000 | |
| Throughout 2023 | Repayments to Bank | 5,000 | |
| 31st Dec 2023 | Balance c/d | 5,000 |