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#1 2018-08-07 03:39:29

Muhammad
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بِسمِ اللَّهِ الرَّحمٰنِ الرَّحيمِ
From: Sahiwal Division
Registered: 2012-03-22
Posts: 22,033
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Financial Accounting Quiz MCQs Quiz Question.

Accounting Quizzes Financial Accounting Quiz MCQs

Question:
The owner of a business starts up using $5000 of her own money. The entry of this transaction is best shown as:

Option A):
A debit to an asset account and a credit to an expense account.
Option B):
A credit to a purchase account and a debit to a sales account.
Option C):
A credit to a capital account and a debit to an asset account
Option D):
A debit to a liability account and a credit to an asset account.

Correct Answer is Option C):
A credit to a capital account and a debit to an asset account


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2018-08-07 03:39:29

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