Podcast
Questions and Answers
What account would be debited and credited when the business bought furniture for use in the business by cash?
What account would be debited and credited when the business bought furniture for use in the business by cash?
In accounting, if the owner takes an asset for personal use, what entry would be made?
In accounting, if the owner takes an asset for personal use, what entry would be made?
If a business sells goods on credit terms, what accounts are debited and credited?
If a business sells goods on credit terms, what accounts are debited and credited?
When an old motor vehicle is sold by a business for cash, which accounts are debited and credited?
When an old motor vehicle is sold by a business for cash, which accounts are debited and credited?
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What entry would be made when a business buys goods for resale on credit?
What entry would be made when a business buys goods for resale on credit?
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If an owner takes cash for personal use from the business, what is the correct accounting entry?
If an owner takes cash for personal use from the business, what is the correct accounting entry?
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What accounts are involved when buying assets for the business other than for resale?
What accounts are involved when buying assets for the business other than for resale?
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If a business sells furniture on time (credit), what accounts are affected?
If a business sells furniture on time (credit), what accounts are affected?
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What is the correct accounting entry when an owner buys motor vehicles for the business on time (credit)?
What is the correct accounting entry when an owner buys motor vehicles for the business on time (credit)?
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If a business buys goods for resale by cash, what accounts are affected?
If a business buys goods for resale by cash, what accounts are affected?
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