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1. After we have finished our Journals and we are now writing up our Ledger Accounts (T- Accounts), the left side of the account
1. After we have finished our Journals and we are now writing up our Ledger Accounts (T- Accounts), the "left side" of the account is used for the account is used for A Left side for "Debit" and the Right side for 'Credit" B. Left side for "Credit" and the Right side for 'Credit" C. Left side for "Credit" and the Right side for 'Debit" D. Left side for "Debit" and the Right side for Debit" and the "right side" of 2. On April 19, 2021, we bought Motor Van by cash for $1,200 In relation to ledger accounts (T-Accounts), which account should be debited, which account should be credit and are the amounts? A. Debit Cash Account $1,200 and Debit Motor Van Account $1,200 B. Credit Cash Account $1,200 and Credit Motor Van Account $1,200 C. Debit Cash Account $1,200 and Credit Motor Van Account $1,200 D. Credit Cash Account $1,200 and Debit Motor Van Account $1,200 3. On April 20, 2021, we paid the Electricity Bill of $8000 by cheque In relation to ledger accounts (T-Accounts), which account should be debited, which account should be credit and what are the amounts? A. Debit Bank Account $8000 and Credit Electricity Account $8000 B. Credit Bank Account $8000 and Debit Electricity Account $8000 C. Debit Cheque Account $8000 and Credit Electricity Account $8000 D. Credit Cheque Account $8000 and Debit Electricity Account $8000 4. Fly Jamaica airline asked it accountant to thoroughly vet the publicly available financial information of a major plane manufacturer in the United States and indicate whether or not they should buy planes from that manufacturer. Under which of the following categories of accounting users would you categorize Fly Jamaica airline? A. Customers B. Employees C. Investor D. Tax collector
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