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BUSINESS
ACCOUNTING

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Question 1....................................................................................................................................3
Question 2 All the transaction are summarized into ledger.........................................................3
Question 3....................................................................................................................................6
Question 4....................................................................................................................................6
Question 5....................................................................................................................................8
Question 6....................................................................................................................................9
Question 7..................................................................................................................................10
Question 8..................................................................................................................................12
Question 9..................................................................................................................................13
Question: 10...............................................................................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES................................................................................................................................1

MAIN BODY
Question 1
1. Calculation of missing figures
1 Assets liabilities capital
€ € €
20000 0 20000
15000 5000 10000
16400 7550 8850
14100 3850 10250
25380 18430 6950
All the missing figure is calculated with the help of accounting equation that is Total
assets = total liabilities + capital. In the above table highlighted part is the missing number.
2. journal entries
Dual aspect of accounting
(a) bank Dr 8000
capital Cr 8000
[being business started}
(b) Computer Dr 4000
Bank Cr 4000
[being computer purchased]
(c) bank Dr 3000
Loan Cr 3000
[being loan obtain]
(d) van Dr 6000
Bank Cr 6000
[being van purchased]
(e) cash Dr 250
Abela Cr 250

[being cash received]
Question 2
All the transaction are summarized into ledger
Bank A/C
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
01/01/21 To capital 25000 02/01/21 By rent 2000
By balance c/f 23000
25000 25000
01/02/21 To balance b/d 23000
Capital A/C
DATE PARTICULAR AMOUNT DATE
PARTICULA
R AMOUNT
31/01/21 To balance c/f 25000 01/01/21 By bank 25000
25000 25000
01/02/21 To balance b/d 25000
Rent A/c
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
02/01/21 To Bank 2000 31/01/21 By balance c/f 2000
2000 2000
01/02/21 To balance b/d 2000
Linda A/C
DATE PARTICULAR AMOUNT DATE PARTICULAR AMOUNT
30/01/21 To purchase return 2000 03/01/21 By purchase 5000
31/01/21 To balance C/f 3000
5000 5000