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Debit Credit Concept by Example On Excel

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nadeemfaisalrana
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19 views

Debit Credit Concept by Example On Excel

Uploaded by

nadeemfaisalrana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Elements

Bought motor vehicle for cash Motor Vehicle Asset Increase


Cash Asset Decrease
Paid creditors, Nawabshah Traders By Cash Trader Liability Decrease
Cash Asset Decrease
Repaid Loan by Cheque Loan Liability Decrease
Bank Asset Decrease
Sold Motor Vehicles for Cash Motor Vehicle Asset Decrease
Cash Asset Increase
Paid office Rent by Cheque Rent Expense
Bank Asset Decrease
A Debtor, Multan Trader Paid us in Cash Receivables Assets Decrease
Cash Assets Increase

Cash 75,000 Asset Increase


Started business with Rs. 75,000 cash and Rs. Bank 900,000 Asset Increase
900,000 in the bank Capital 975,000 Equity Increase
Received a loan of Rs. 200,000 from KLM Bank Bank 200,000 Asset Increase
by cheque. Loan-KLM Ban 200,000 Liability Increase
Computer 30,000 Asset Increase
Bought a computer for cash Rs. 30,000. Cash 30,000 Asset Decrease
Bought display equipment on credit from Clear Display Equipm 42,000 Asset Increase
Count Ltd Rs. 42,000. A/c Payable 42,000 Liability Increase
Took Rs. 20,000 out of the bank and put it in the Bank 20,000 Asset Decrease
cash till. Cash 20,000 Asset Increase
Repaid part of KLM Bank loan by cheque Rs. Loan-KLM Ban 50,000 Liability Decrease
50,000. Bank 50,000 Asset Decrease
Paid amount owing to Clear Count Ltd Rs. 42,000 Bank 42,000 Asset Decrease
by cheque. A/c Payable 42,000 Liability Decrease
Debit/Credit Creditor Debtor
Debit Supplier Customer
Credit
Debit
Credit
Debit
Credit
Credit Cash Based
Debit Accrual Based
Debit Prudence
Credit
Credit
Debit

Debit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Credit
Debit
Debit
Credit
Credit
Debit
Analyze Amount
Started business with Rs. 75,000 cash and Rs. 900,000 in the bank. 75,000
900,000
975,000
Received a loan of Rs. 200,000 from KLM Bank by cheque. 200,000
200,000
Bought a computer for cash Rs. 30,000. 30,000
30,000
Bought display equipment on credit from Clear Count Ltd Rs. 42,000. 42,000
42,000
Took Rs. 20,000 out of the bank and put it in the cash till. 20,000
20,000
Repaid part of KLM Bank loan by cheque Rs. 50,000. 50,000
50,000
Paid amount owing to Clear Count Ltd Rs. 42,000 by cheque. 42,000
42,000
Repaid part of KLM Bank loan by cash Rs. 25,000. 25,000
25,000
Bought a printer on credit from Image Traders for Rs. 20,000. 20,000
20,000
Bought goods on credit from ABC for Rs. 10,000 10,000
10,000
Sold goods on credit to XYZ for Rs. 12,000 12,000
12,000
Owner took cash from bank of Rs. 7,000 for his personal use. 7,000
7,000
Asset Expense
Liability Revenue Debit
Equity Asset
Element Account Amount Debit Credit Expense
Cash Asset Increase 75,000
Bank Asset Increase 900,000
Capital Equity Increase 975,000
Bank Asset Increase 200,000
Loan-KLM Bank Liability Increase 200,000
Computer Asset Increase 30,000
Cash Asset Decrease 30,000
Display Equipment Asset Increase 42,000
A/C Payable-CCL Liability Increase 42,000
Cash Asset Increase 20,000
Bank Asset Decrease 20,000
Bank Asset Decrease 50,000
Loan-KLM Bank Liability Decrease 50,000
A/C Payable-CCL Liability Decrease 42,000
Bank Asset Decrease 42,000
Loan-KLM Bank Liability Decrease 25,000
Cash Asset Decrease 25,000
Printer Asset Increase 20,000
Image-A/C Payabl Liability Increase 20,000
Goods/Purchses Asset Increase 10,000
ABC-A/C Payable Liability Increase 10,000
A/R -XYZ Asset Increase 12,000
Sales Revenue Increase 12,000
Owner Equity Decrease 7,000
Bank Asset Decrease 7,000
1,433,000 1,433,000
Credit
Liability
Equity
Revenue
Book Keeping
Accounting Analyze, Recording, Categorizing, Summurizing

Accounts Dr. Cr.


Assets Increase Decrease
Liability Decrease Increase
Equity Decrease Increase
Revenue Increase
Expenses Increase

Accounting Cycle
Transaction Analyze CategorizeRecording Ledger PosTrial Balan Adjusting EAdjusted TrSummurize to Financial Statement
Financial Statements
1 Balance Sheet Financial Position Statement
2 Income Statement Financial Performance Statement
3 Cash Flow statement
4 Changes in Equity Statement
5 Notes to the Financial Statements
Accounting Equation
Assets = Liabilities Equity
External Internal

Revenue Less Expenses


e to Financial Statement

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