Which of the following is correct?
Liabilities = Assets + capital
Assets = Liability - capital
Capital = assets - liabilities
Capital = assets + liabilities
On which side is increase of liability posted?
Debit
Credit
Expenditure
Income
Voucher is prepared for
Cash received and paid
Cash/credit sales
Cash/credit purchase
All of the above
Increase of revenue is posted on the:
Expenditure side
Income side
Debit side
Credit side
Recording of transaction in the journal is called:
Casting
Journalising
Posting
Recording
On which side increase of expenses are posted?
Which is the book of original entry?
Journal
Cashbook
Purchase book
Sales book
A purchase of machine for cash should be debited to
Cash account
Machine account
Purchase account
None of these
Cash withdrawn by the proprietor should be credited to:
Drawing account
Capital account
Profit and loss account
On which side is decrease of assets posted?
