Iain Blake commenced business introducing as his capital furniture worth 21,000, a car valued at 30,000 and

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Iain Blake commenced business introducing as his capital furniture worth £21,000, a car valued at £30,000 and £48,000 in cash. The journal entry for recording this would require:
(a) Debit in the Cash account and credit in the Capital account

(b) Debit in the three asset accounts, including cash and a credit in the Capital account

(d) No journal entries

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 31, 2023 02:27 AM

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Iain Blake commenced business introducing as his capital furniture worth 21,000, a car valued at 30,000 and

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c Debit in the tw...View the full answer

Financial Accounting An Introduction

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