You can choose from any of the following Accounts:
Accounts Payable, Accounts Receivable, Auditor Fees, Bank Account
Bank Loan, Car, Donations, Equipment Sales,
Fundraising, Inventory ,Office Expenses, Salaries
1. On Sept 1, Mary purchased $500 of clothing as inventory (to resell) from Sports Clothing Pty Ltd on credit.
Account||||||Dr ||| Cr
Inventory|||| 500
Bank Loan |||||||||| 500
2. On Sept 1, Timberwolf charities Inc. received a bill for $200 from Bell Canada.
Account|||||||||||||||||||||Dr ||| Cr
Office Expenses||||||200
Bank Account|||||||||||||||||||||||||||200
3. On Sept 1, Peter paid a salary of $2,500 to its Executive Director
.
Account|||||||||||||||||||||||| Dr ||| Cr
Salaries|||||||||||||||||||||||||2500
Accounts Payable||||||||||||||||||2500
4. On Sept 2, Timberwolf charities Inc. received a donation of $500 from Bank of Nova
Scotia.
Account||||||||||||||||Dr ||| Cr
Donations|||||||||||||500
Bank account||||||||||||||||500
5. On Sept 3, Timberwolf charities Inc. received $1,500 from Fundraising.
Account||||||||||||||||||||| Dr ||| Cr
Fundraising|||||||||||||||1500
Accounts Receivable|||||||||||||1500
6. On Sept 4, Timberwolf charities Inc. purchased a car costing $20,000, paid with a bank loan.
Account|||||||||Dr ||| Cr
Car|||||||||||||||||20000
Bank Loan ||||||||||||||20000
7. On Sept 5, Peter paid $1500 to outstanding creditors.
Account|||||||||||||||||Dr ||||||| Cr
Bank Loan||||||||||||1500
Accounts payable||||||||||||||||||1500
The first number is always the Dr. I couldnt get the post to format correctly. Dr is bold.
Accounts Payable, Accounts Receivable, Auditor Fees, Bank Account
Bank Loan, Car, Donations, Equipment Sales,
Fundraising, Inventory ,Office Expenses, Salaries
1. On Sept 1, Mary purchased $500 of clothing as inventory (to resell) from Sports Clothing Pty Ltd on credit.
Account||||||Dr ||| Cr
Inventory|||| 500
Bank Loan |||||||||| 500
2. On Sept 1, Timberwolf charities Inc. received a bill for $200 from Bell Canada.
Account|||||||||||||||||||||Dr ||| Cr
Office Expenses||||||200
Bank Account|||||||||||||||||||||||||||200
3. On Sept 1, Peter paid a salary of $2,500 to its Executive Director
.
Account|||||||||||||||||||||||| Dr ||| Cr
Salaries|||||||||||||||||||||||||2500
Accounts Payable||||||||||||||||||2500
4. On Sept 2, Timberwolf charities Inc. received a donation of $500 from Bank of Nova
Scotia.
Account||||||||||||||||Dr ||| Cr
Donations|||||||||||||500
Bank account||||||||||||||||500
5. On Sept 3, Timberwolf charities Inc. received $1,500 from Fundraising.
Account||||||||||||||||||||| Dr ||| Cr
Fundraising|||||||||||||||1500
Accounts Receivable|||||||||||||1500
6. On Sept 4, Timberwolf charities Inc. purchased a car costing $20,000, paid with a bank loan.
Account|||||||||Dr ||| Cr
Car|||||||||||||||||20000
Bank Loan ||||||||||||||20000
7. On Sept 5, Peter paid $1500 to outstanding creditors.
Account|||||||||||||||||Dr ||||||| Cr
Bank Loan||||||||||||1500
Accounts payable||||||||||||||||||1500
The first number is always the Dr. I couldnt get the post to format correctly. Dr is bold.
Last edited: