In the following transaction: ‘The owner puts a further amount into the business by cheque’, which account is debited and which account is credited?
The capital equation is:
A general term for amounts owing to persons other than the owner is ......
According to double-entry rules, if an asset increases, .......
In the accounting equation, ........
‘Capital’ is ................
A .... is someone who owes you money after you sell him/ her on credit.
........... is a general term for activities of the business.
The word ......... in the heading of the balance sheet is linked to the idea of the snapshot photograph.
Where balances are carried forward from one page to the next, ‘balance .........’ would appear at the bottom of one page and ‘balance .......’ at the top of the next page.
The account ‘Bank’ has 3 transactions during July, Year 4, including 1 debit entries with £2,000 and 2 credit entries with £170 and £240. How much is the balance of this account at the end of July, Year 4?
The difference between current account and deposit account is that current account is used for ............ banking and withdrawal of money, and in deposit account withdrawals will be .............
The account ‘T Smith’ has 4 transactions during July, Year 4, including 2 debit entries with £50 & £80 and 2 credit entries with £170 and £230. How much is the balance of this account at the end of July, Year 4?
............. accounts are individual accounts of debtors and creditors.
4 types of personal accounts include capital, supplier, customer, and ..........
.................. account is used for regular banking and withdrawal of money.
.............. Ledger is used to record creditor accounts
.............. Ledger is used to record debtor accounts
............. accounts cover asset accounts such as premises, motor vehicles, etc.
Book-keeping entries relating to Credit Purchase are:
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