Action Accounting
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Double Entry: Transaction 1 / of 6
Scene 2
/ of 60
Introduction
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Double Entry
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Generally the first transaction when a business is being set up is for the owner to introduce capital. In this transaction the owner Simon Evans lodges capital of €25000 in a business bank account on 16th August.
Aug 16: Capital €25000 lodged in bank account by the owner.
Tick which two ledger accounts should be used.
Bank Account
Capital Account
Creditor - Modern Interiors Account
Creditor - Digital World Account
Equipment Account
Furniture Account
Purchases Account
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The bank account and the capital account are the two accounts which need to be updated to reflect this transaction.
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Are you sure? Try again.
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Are you sure? The owner is introducing capital which is lodged in the bank account.
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