AdmitMe
Accounts (Principles of Accounts) · Double entry and the ledger

Accounts (Principles of Accounts)Double entry and the ledgerWAEC

The owner takes goods from the business for personal use. The entries are

Show answer

Answer: A. debit drawings, credit purchases

Drawings increase and the goods are removed from purchases at cost.

An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.

Practise Double entry and the ledgerA timed set on this topic, freeAsk the AI TutorExplain it another way

Discussion

Ask about a step, share a shortcut, or explain it your way. Be kind; no links.

No comments yet. Be the first to explain it.

More Double entry and the ledger questions