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-   -   Solving accounting word problem (https://www.askmehelpdesk.com/showthread.php?t=681856)

  • Jul 12, 2012, 05:31 AM
    asenasalailagi
    Solving accounting word problem
    Harsha started business with cash $100000.
    Purchased goods from Naman for cash $40000.
    Purchased goods from Vikil for $10000.
    Sold goods to Banu costing $10000 for $12000.
    Sold goods for cash $15000 (cost $14000)
    Bought furniture for cash $5000.
    Paid rent $500.
    Received interest $800.
    Withdrew for personal use $1000.
  • Jul 12, 2012, 06:32 AM
    pready
    These are simple journal entries. For example number one:
    Debit Cash for 100,000
    Credit Owners Capital 100,000

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