Accounting

You are required to create transactions related to the nature of your business for the 

month February 2016. All the transactions are to be explained with the nature of your 

business. 

Capital Introduced (cash in hand, cash at bank & non-current assets 1 

Loan taken from a bank 1 

Non- current assets acquired on credit 2 

Non- current assets acquired on cash basis 1 

Trade goods purchased on credit (minimum 4 different suppliers) 6 

Trade goods purchased on cash basis 3 

Trade goods sold on credit (minimum 3 different customers) 5 

Trade goods sold on cash basis 2 

Return of goods by customers 2 

Return of goods to suppliers 2 

Payment to supplier inclusive of discount received 3 

Payment by customers inclusive of discount allowed 3 

Payment of expenses by cheque 5 

Payment of expenses by cash 4 

Receipt of income by cheque 2 

Receipt of income by cash 2 

Withdrawal of goods for personal use 1 

Withdrawal of cash for personal use 1