Action Accounting
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The Pineapple Pub
Double Entry: Transaction 8 / of 16
Scene 31
/ of 100
Introduction
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Double Entry
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Balancing Accounts
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Trial Balance
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Income Statement
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Balance Sheet
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Completed Financial Statements
Paid wages €11,000 by cheque on 15th December.
Which account should be debited?
Bank Account
Wages Account
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An expense account is debited with an increase in cost while the bank account is credited because an asset is reducing in value.
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Are you sure? Try again.
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Remember: Wages is an expense and as Jason is giving money out of the bank he is reducing an asset.
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