Double Entry

The business owner, Jack invested $9000 into the business bank account. What is the double entry to record this transaction?

• Debit Bank and Credit Capital

• Debit Capital and Credit Bank

• Debit Capital and Credit Jack

• Debit Jack and Credit Bank

Sold equipment by cash $700. What is the double entry to record this transaction?

• Debit Cash and Credit Sales

• Debit Cash and Credit Equipment

• Debit Equipment and Credit Cash

• Debit Sales and Credit Equipment

Bought a computer by cash $2500. What is the double entry to record this transaction?

• Debit Computer and Credit Cash

• Debit Cash and Credit Computer

• Debit Cash and Credit Purchases

• Debit Purchases and Credit Cash

Sold goods on credit to Mark. What is the double entry to record this transaction?

• Debit Cash and Credit Sales

• Debit Mark and Credit Sales

• Debit Sales and Credit Mark

• Debit Cash and Credit Sales

Bought goods worth $4000 on credit from Ben. What is the double entry to record this transaction?

• Debit Purchases and Credit Cash

• Debit Cash and Credit Purchases

• Debit Ben and Credit Purchases

• Debit Purchases and Credit Ben

Jack withdrew goods worth $500 from the business for his personal use. What is the double entry to record this transaction?

• Debit Goods and Credit Jack

• Debit Jack and Credit Drawings

• Debit Drawings and Credt Purchases

• Debit Purchases and Credit Drawings

Bought computers worth $3000 on credit from Computers Ltd. What is the double entry to record this transaction?

• Debit Cash and Credit Computers

• Debit Computers and Credit Cash

• Debit Computers Ltd and Credit Computers

• Debit Computers and Credit Computers Ltd

Sold old computers worth $1500 by cheque. What is the double entry to record this transaction?

• Debit Computers and Credit Cash

• Debit Computers and Credit Cheque

• Debit Bank and Credit Computers

• Debit Computers and Credit Bank

Mark returned goods worth $40 to the business. What is the double entry to record this transaction?

• Debit Mark and Credit Sales Returns

• Debit Sales Returns and Credit Mark

• Debit Cash and Credit Mark

• Debit Mark and Credit Cash

Returned goods worth $200 to Ben. What is the double entry to record this transaction?

• Debit Ben and Credit Purchases Return

• Debit Purchases Return and Credit Ben

• Debit Cash and Credit Purchases Return

• Debit Purchases Return and Credit Cash