The accounting equation and double entry

Question 1 of 10

Assets rise by GH¢5,000 and liabilities rise by GH¢2,000 during a period with no drawings or new capital. Profit is

Question 2 of 10

The owner brings GH¢10,000 cash into the business. The entry is

Question 3 of 10

An increase in a liability is recorded as a

Question 4 of 10

Buying office furniture for cash affects

Question 5 of 10

An increase in an asset is recorded as a

Question 6 of 10

A business with capital GH¢40,000 and liabilities GH¢15,000 has total assets of

Question 7 of 10

In double entry, every transaction affects

Question 8 of 10

Credit sales are first recorded in the

Question 9 of 10

A petty cash book kept on the imprest system is

Question 10 of 10

Goods bought on credit from Mensah are recorded by