WIP - Basic Journal entries Flashcards
Basic Journal entries (3 cards)
1
Q
What is the journal entries when the owner contributed $5 000 into the business bank account.
A
Dr Cash at bank $5 000
Cr Capital $5 000
2
Q
What is the journal entries when the owner contributed her personal motor vehicle worth $25 000 to the business for delivering goods to the customers
A
Dr Motor Vehicle $25 000
Cr Capital $25 000
3
Q
What is the journal entries when business borrow $40 000 from Richie Bank
A
Dr Cash at bank $40 000
Cr Loan from Richie Bank
