Akirika bought a motor van for his business by cash. The ...
Akirika bought a motor van for his business by cash. The entries are to debit
Motor van and credit Akirika
Sales and credit Akrika
Motor van and credit cash
Cash and credit motor van
Correct answer is C
Since the van is not for resale rather to help in the running of the business, we debit motor van and credit cash account.
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline...
The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of ...
Use the following information, \(\begin{array}{c|c} & Le\\ \hline \text{Sales} & 183,40...
The business entity concept ...
What is the cardinal rule of the double entry system? ...
Use the information below to answer the question that follows \(\begin{array}{c|c} Creditors &...
Which of the following is not a debit entry in the Bought Ledger? ...
Goodwill is recognized in partnership accounts when ...
Which of the following factors has aided the development of accounting? ...