Osa started business with Le 40,000 cash. The accounting ...
Osa started business with Le 40,000 cash. The accounting entry is debit
Cash account; credit capital account
Capital account; credit cash account
Purchases account; credit cash account
Expenses account; credit capital account
Correct answer is B
Debit capital account (i.e the money used in starting a business) and credit cash
\(\begin{array}{c|c} & Le\\ \hline \text{Construction and hospital wards} & 300,000\\ \text{...
The purchases ledger control account is also known as ...
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The formular for calculating depreciation using straight line method is ...