Asset Recording – Knowsia

FA – May 2018 – L1 – SA – Q11 – Double-Entry Accounting Principles

Determines the correct double-entry recording of a computer purchase transaction.

Question

Computer Company Limited recently bought ten computers for its use, which of the following is the correct method of recording this transaction?
A. Debit computers account and credit cash account
B. Debit purchases account and credit cash account
C. Debit cash account and credit purchases account
D. Debit cash account and credit computers account
E. Debit computers account and credit purchases account

Answer

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Tags: Asset Recording, Double Entry, Purchases
Level: Level 1

Topic: Double-Entry Accounting Principles
Series: MAY 2018

Question Tag: Asset Recording

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FA – May 2018 – L1 – SA – Q11 – Double-Entry Accounting Principles

Determines the correct double-entry recording of a computer purchase transaction.

FA – May 2018 – L1 – SA – Q11 – Double-Entry Accounting Principles

Determines the correct double-entry recording of a computer purchase transaction.

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Question Tag: Asset Recording

Filter by Professional Bodies

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FA – May 2018 – L1 – SA – Q11 – Double-Entry Accounting Principles

Determines the correct double-entry recording of a computer purchase transaction.

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FA – May 2018 – L1 – SA – Q11 – Double-Entry Accounting Principles

Determines the correct double-entry recording of a computer purchase transaction.

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Customer

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