EMS: Accounting Grade 9

Money or items contributed by the owner of business

• Capital

• Drawing

• none

Money or items taken by the owner of business

• Drawings

• Capital

• none

Property, offices. factories and buildings

• Placements

• Land and buildings

• none

Cars, motorcycles and trucks

• Vehicles

• Motors

• none

• Equipment

Computers, machines and furniture

• Equipment

• Machanicles

• Things

• none

The current bank account (if positive)

• Bank

• none

• Draft account

• Bank overdraft

Interest earned on a positive bank account

• Interest on current account

• Petty cash

• Interest om overdraft

• none

Interest on negative bank account

• Bank

• none

• Bank overdraft

• Interest on current account

Extra cah (kept in safe box to pay small purchases)

• Bank

• Petty cash

• none

• Fixed deposit

Money kept in register to use as change

• none

• Petty cash

• Cash float

• Drawings