[diana92]

1.hire a waxing machine for a three-month period and paid full amount of rm3000 in advance
2.placed an order,cleaning equipment worth rm4200. No down-payment required.
Paid the balance owed for cleaning supplies and made a new purchase on credit rm550

[diana92]

I want to know how classification on journal and ledger.. please help me

[pready]

1. You do not hire a waxing machine. You are either purchasing one, renting one, or are hiring someone to wax your floors. Each one of these is a different transaction.

2. Placed an order with no down payment would be a debit to an asset and a credit to accounts payable.

Paid for supplies ordered would be a debit to accounts payable and a credit to cash.

Made a purchase on credit, you need to know what the purchase is so you can debit the appropriate asset and your credit will be to accounts payable.

[diana92]

still doesn't understand about made a new purchase... must use the same value or not?

[pready]

In your first post you said "new purchase on credit rn550"

This does not say what the purchase is for. Is it supplies, equipment, furniture, or etc...

Your journal entry will be a debit to the appropriate asset account and a credit to accounts payable for rm550.

[diana92]

For this question, hire a waxing machine for a three-month period and paid full amount of rm3000 in advance need open three transaction such as what you tell me before this? Can you explain details to me..

[diana92]

Placed an order with no down payment would be a debit to an asset and a credit to accounts payable.

Paid for supplies ordered would be a debit to accounts payable and a credit to cash.

Still don't understand

[pready]

You ordered something, means you will own something and or have control of it means it is an asset. An increase in an asset is a debit. No down payment means you owe something, which is a liability, an accounts payable. An increase in accounts payable is a credit.

Paid for supplies ordered means you paid on account, which is an account payable. A decrease in an account payable is a debit. Paid means you paid cash. A decrease in an asset is a credit.