Imagine you have been in business for a few months but you have not kept any proper records of your transactions. You have decided to end that business and start a new one by transferring everything to the new business. You now also want to start using double entry bookkeeping. The first step is to write down a list of everything belonging to the old business and everything the old business owes. Here is the list you prepared:

Required:
What is the debit and credit entry for each of these items? (Ignore the amounts.)

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1 2 945WN 3 6 7 8 9 10 11 12 13 Cash Cash in US dollars' worth Cash in the bank Cash in the bank in Euros worth Computer Mobile phone Office furniture Printer Delivery van Goods for sale Amount due from J. Gidman Amount due from K. Bailey Loan from bank 400 280 900 350 710 590 840 160 2,950 12,300 560 230 6,000