Gce Model Questions Vol1 2020 Financial Accounting Question 18

Practice objective / multiple choice question 18 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2020 Financial Accounting Objective / Multiple Choice Easy Difficulty

Question 18 GCE_MODEL_QUESTIONS_VOL1 • 2020 • FINANCIAL_ACCOUNTING • objective

A company purchased office equipment for \(\pounds5{,}000\) cash. Record the journal entry using the double‑entry system.

Answer Options

A. Debit Office Equipment \(\pounds5{,}000\); Credit Accounts Payable \(\pounds5{,}000\)

B. Debit Office Equipment \(\pounds4{,}500\); Credit Cash \(\pounds4{,}500\)

Correct Answer C. Debit Office Equipment \(\pounds5{,}000\); Credit Cash \(\pounds5{,}000\)

D. Debit Cash \(\pounds5{,}000\); Credit Office Equipment \(\pounds5{,}000\)

Correct Answer

Correct Option:

Debit Office Equipment \(\pounds5{,}000\); Credit Cash \(\pounds5{,}000\)

About This Question

This is Gce Model Questions Vol1 2020 Financial Accounting Question 18. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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