16. A C. D. 17. B. 18. The double-entry system requires that each transaction must be recorded in at least two different accounts B. in two sets of books in a journal and in a ledger first as a revenue and then as an expense Kingston's trial balance includes a balance for his drawings How should this balance be treated in the financial statements? A As expenses in the statement of comprehensive income. As income in the statement of comprehensive income. C. As a reduction under capital in the statement of financial position. D. As an increase under capital in the statement of financial position. In the year to 30 April 2020, Musa's sales were $182,000. All of his sales were made at a gross profit of S54,600. His opening inventory value was $11,800 and his closing inventory value was 89,700 What was the value of Musa's purchases in the year to 30 April 20202 A. $125,300 $137,900 c. $140,000 $142.100 Grace is a registered GST collecting agent and he has purchased goods for resale. The invoice shows the cost of the goods as $357.50, which includes GST. What debit entry should be made in the purchases account? $325.00 B. $357.50 C. $321.75 D. $393.25 B. D. 19. A. 20. In recording accounting transactions, evidence that a transaction has taken place is obtained from source documents B the trial balance C the ledger D. the journal