Double entry bookkeeping and nominal
ledger (T-Accounts) – Questions And
Answers
The credit side of a journal entry may -
correct answer ✅Increase payables
Which accounting concept is associated with recording items at
original cost? -
correct answer ✅Historical cost
Which of the following are correct?
(1) Paid for advertising cost by cheque
Debit: Advertising expense Credit: Bank
(2) Sold company van for cash
Debit: Cash Credit: Sales
(3) Cash taken by owner
Debit: Cash Credit: Drawings
(4) Paid for heat and light expense by Direct debit
Debit: Heat and light expense Credit: Bank -
correct answer ✅(1) and (4) only
