Action Accounting
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The Pineapple Pub
Double Entry: Transaction 1 / of 16
Scene 2
/ of 100
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December 1: Jason has decided to take over a pub located in designated tourist development area. He invests €40,000 opening a business bank account.
Placed capital of €40,000 into the bank Account on 1st December.
Tick which two ledger accounts should be used.
Bank Account
Capital Account
Creditor - Flash Sales Limited Account
Creditor - Kensington Supplies Limted Account
Debtor - Hampstead Heath Party Hire Account
Discount Allowed Account
Drawings Account
Energy Expenses Account
Equipment Account
Furniture Account
Leasing Expenses Account
Purchases Account
Rent Payable Account
Rent Receivable Account
Sales Account
Wages Account
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That is correct. Money is lodged in a business bank account and the owner has provided capital to the business.
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Are you sure? Try again.
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When an owner invests money the transaction is usually recorded in the capital account, the owner also opens a business bank account where the money is lodged.
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