Question Tag: Credit Purchase

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FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)

Determines the correct journal entry for the credit purchase of property, plant, and equipment (PPE).

Question

Which of the following journal entries correctly records the credit purchase of property, plant, and equipment (PPE)?

Account to be Debited	Account to be Credited
A. PPE register	Purchases ledger control
B. Purchase ledger control	PPE
C. Bank	PPE
D. PPE	Supplier of PPE
E. PPE	PPE disposal

Answer

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Tags: Credit Purchase, Journal Entries, PPE
Level: Level 1

Topic: Accounting for Property, Plant, and Equipment (PPE) IAS 16
Series: NOV 2020

FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)

Determines the correct journal entry for the credit purchase of property, plant, and equipment (PPE).

Question

Which of the following journal entries correctly records the credit purchase of property, plant, and equipment (PPE)?

Account to be Debited	Account to be Credited
A. PPE register	Purchases ledger control
B. Purchase ledger control	PPE
C. Bank	PPE
D. PPE	Supplier of PPE
E. PPE	PPE disposal

Answer

Login or create a free account to see answers

Find Related Questions by Tags, levels, etc.

Tags: Credit Purchase, Journal Entries, PPE
Level: Level 1

Topic: Accounting for Property, Plant, and Equipment (PPE) IAS 16
Series: NOV 2020

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FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)

Determines the correct journal entry for the credit purchase of property, plant, and equipment (PPE).

FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)

Determines the correct journal entry for the credit purchase of property, plant, and equipment (PPE).

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Question Tag: Credit Purchase

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FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)

Determines the correct journal entry for the credit purchase of property, plant, and equipment (PPE).

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FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)

Determines the correct journal entry for the credit purchase of property, plant, and equipment (PPE).

You're reporting an error for "FA – Nov 2020 – L1 – SA – Q18 – Accounting for Property, Plant, and Equipment (IAS 16)"

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