The owner of a shop draws a cheque on his personal bank account to pay for shop

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The owner of a shop draws a cheque on his personal bank account to pay for shop rent. This should be accounted for as:

(a) Credit Bank account in the Cash Book and debit Drawings account

(b) Debit Bank account and credit Capital account

(d) Credit Capital account and debit Rent account

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 29, 2023 10:00 AM

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The owner of a shop draws a cheque on his personal bank account to pay for shop

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Financial Accounting An Introduction

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