Question
SECTION A SHORT ANSWER QUESTIONS [60 MARKS] Answer ALL questions in this section. Question 1 (4 marks) Question 2 (10 marks) Indicate the accounts to
SECTION A SHORT ANSWER QUESTIONS [60 MARKS]
Answer ALL questions in this section.
Question 1 (4 marks)
Question 2
(10 marks) Indicate the accounts to be debited and credited in each of the following transactions. Montle Pty Ltd started business with P300,000 at the bank
a. Bought office furniture paying by cheque P30,000.
b. Obtained a bank loan from the bank for P120,000.
c. Purchased goods on credit from YM Ltd for P30,000
d. Sold goods on credit to AT ltd for P15,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Whispers In The Auditing Room
Authors: Azhar UL Haque
1st Edition
B0C63ZTK27, 979-8223789352
