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Enter the following transactions in the accounts
affected.
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Assets increase on the debit side and decrease on
the credit.
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Liabilities are the opposite.
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Every transaction has a debit part and a credit
part.
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Q1)
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The owner invests in the business depositing £5000
in the business bank account on 1st May.
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Capital
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May
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£
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May
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£
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Bank
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May
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£
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May
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£
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Q2)
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On 2nd May, the business buys a delivery van on
credit from Hargreaves Garages, £2500.
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Van
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May
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£
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May
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£
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Hargreaves
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May
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£
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May
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£
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Q3)
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On 3rd May, the business buys computers on credit
from PC World for £1500.
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Computers
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May
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£
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May
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£
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PC World
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May
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£
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May
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£
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Q4)
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On 4th May, the business makes a part payment of
£700 by cheque to Hargreaves Garages.
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Bank
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May
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£
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May
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£
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Hargreaves
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May
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£
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May
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£
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Q5)
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On 5th May, the owner pays PC World the amount owing
using his own money.
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Capital
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May
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£
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May
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£
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PC World
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May
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£
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May
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£
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Q6)
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On 6th May, the owner withdraws £100 from the
business bank and places it in
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a business cash box.
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Bank
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May
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£
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May
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£
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Cash Box
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May
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£
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May
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£
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Q7)
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On 7th May the business recieves a loan from Big
Bank for £2000 which is paid into
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the business bank account.
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Bank
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May
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£
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May
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£
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Big Bank
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May
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£
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May
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£
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Q8)
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On 8th May, the business buys stationery (paper,
pens, etc) for £80, paying in cash.
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Cash Box
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May
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£
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May
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£
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Stationery
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May
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£
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May
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£
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