General Journal & Ledger

Cash, Debtors (Accounts receivable) & Land are what type of accounts?

• Assets (Dr)

• Liabilities (Cr)

• Expenses (Dr)

• Equity (Cr)

• Revenue (Cr)

Loans, Creditors (Accounts payable) & Bank overdraft are what type of accounts?

• Assets (Dr)

• Liabilities (Cr)

• Expenses (Dr)

• Equity (Cr)

• Revenue (Cr)

Wages, Rent & Telephone are what type of accounts?

• Assets (Dr)

• Liabilities (Cr)

• Expenses (Dr)

• Equity (Cr)

• Revenue (Cr)

Sales, Fees received & interest received are what type of accounts?

• Assets (Dr)

• Liabilities (Cr)

• Expenses (Dr)

• Equity (Cr)

• Revenue (Cr)

Capital is what type of account?

• Assets (Dr)

• Liabilities (Cr)

• Expenses (Dr)

• Equity (Cr)

• Revenue (Cr)

The owner introduced $30,000 into the business. Identify the two accounts affected

• Capital (Eq)

• Cash at Bank (A)

• Accounts Receivable (A)

• Loan (L)

The owner introduced $30,000 into the business. Identify the account that will record a credit transaction

• Capital (Eq)

• Cash at Bank (A)

• Accounts Receivable (A)

• Loan (L)

The owner introduced $30,000 into the business. Identify the account that will record a debit transaction

• Capital (Eq)

• Cash at Bank (A)

• Accounts Receivable (A)

• Loan (L)

A business bought a motor vehicle for $15,000. The business paid with a deposit of $5,000 cash and a $10,000 loan. Identify the 3 accounts affected...

• Motor Vehicle (A)

• Cash at Bank (A)

• Loan (L)

• Sales (R)

A business bought a motor vehicle for $15,000. The business paid with a deposit of $5,000 cash and a $10,000 loan. Identify the accounts credited...

• Motor Vehicle (A)

• Cash at Bank (A)

• Loan (L)

• Sales (R)