John brought in an additional plant into his business. Wh...
John brought in an additional plant into his business. What are the accounting entries necessary to reflect the transaction?
Debit plan account, credit current account
Debit current account, credit plant account
Credit plan account, credit profit and loss account
Debit profit and loss account, credit plant account
Debit plant account, credit capital account
Correct answer is E
No explanation has been provided for this answer.
What is the cardinal rule of the double entry system? ...
A transaction that would cause the cash book balance to be less than the bank statement balance...
A class of preference shares in which dividend rights are carried forward is ...
Another name for control accounts is ...
Sales--------------- 120,000 Purchase-----------100,000 Opening stock-----10,000 Closing stock---...
Use the following information to answer the given question \(\begin{array}{c|c} & N & &...
N Bank account 59,410 Capital account 50,000 Purchase account 20,000 Rent 2,500 Stationery 90 ...
Which of the following is a credit item in an income and expenditure account? ...
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditor...