WorksheetsDouble Entry Book-keeping
Total questions: 20
Worksheet time: 20mins
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
Bought office furniture by cheque £1500
Credit Bank / Debit Office Furniture
Debit Office Furniture/Credit Bank
Bought machinery £7500 on credit for Planer Ltd.
Debit Planer Ltd./ Credit Machinery
Debit Machinery/ Credit Planer
Bought motor van paying by cheque £6000
Debit Motor Van/Credit Bank
Debit Bank/ Credit Motor Van
Sold office machinery for cash
Debit Cash/Credit Office Machinery
Debit Office Machinery/Credit Cash
Bought motor van paying by cheque $6000
Debit Motor Van/Credit Bank
Debit Bank/ Credit Motor Van
Debit is always equal to credit.
True
False
An increase in expense accounts is a
Debit
Credit
An increase in Unearned Revenue is a
Debit
Credit
Double entry in accounting means there must be________ entries for every transaction?
two
Three
six
one
________ are debts of the business?
assets
liabilities
owners equity
vehicles
Assets increase on the ________ side?
subsidiary
T-account
credit
debit
