The purchase of land and machines will generally be recorded in the same ledger account.
举一反三
- A business maintains a full set of books of account. Where will the purchases account appear? A: sales ledger B: general ledger C: purchases day book D: purchases ledger
- A company purchase supplies £7,100 on credit. The two accounts affected by this transaction are the supplies account and the __________ account. A:
- Which ONE of the following is an error of principle? A: A gas bill credited to gas account and debited to the bank account. B: The purchase of a non-current asset credited to the asset account at cost and debited to the payable’s account. C: The purchase of a non-current asset debited to the purchases account and credited to the payable’s account. D: The payment of wages debited and credited to the correct accounts, but using the wrong amount.
- Personal accounts are contained in the _____. A: Note receivables ledger B: account receivables ledger C: account payables ledger D: Note payables ledger
- The essential point of the double-entry system of accounting is that every transaction A: affects accounts on both sides of the balance sheet. B: is recorded in both the journal and the ledger. C: increase one ledger account and decrease another. D: affects two or more ledger accounts and is recorded by an equal amount of debits and credits.