Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On 1 5 November 2 0 2 3 , the owner of Africa Traders, Mr A Africa, did an electronic funds transfer of R 2

On 15 November 2023, the owner of Africa Traders, Mr A Africa, did an electronic funds transfer of R25000 into the entitys bank account as an additional capital contribution. Africa Traders is not a registered VAT vendor.
Which account will be debited, and which account will be credited in the general ledger of Africa Traders?
Select one:
a.
Dr
Bank
Cr
2023
R
2023
R
Nov
Nov
15
Capital
25000
Dr
Capital
Cr
2023
R
2023
R
Nov
15
Bank
25000
Nov
b.
Dr
Bank
Cr
2023
R
2023
R
Nov
15
Long-term loan: Mr A Africa
25000
Nov
Dr
Long-term loan: Mr A Africa
Cr
2023
R
2023
R
Nov
Nov
15
Bank
25000
c.
Dr
Bank
Cr
2023
R
2023
R
Nov
Nov
15
Long-term loan: Mr A Africa
25000
Dr
Long-term loan: Mr A Africa
Cr
2023
R
2023
R
Nov
15
Bank
25000
Nov
d.
Dr
Bank
Cr
2023
R
2023
R
Nov
15
Capital
25000
Nov
Dr
Capital
Cr
2023
R
2023
R
Nov
Nov
15
Bank
25000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting in an Economic Context

Authors: Jamie Pratt

8th Edition

9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292

Students also viewed these Accounting questions