Question: QUESTION 5 What is the correct double entry to record the depreciation charge for a period? A. Dr. Depreciation expenses; Cr. Accumulated depreciation B.

QUESTION 5 What is the correct double entry to record the depreciation

QUESTION 5 What is the correct double entry to record the depreciation charge for a period? A. Dr. Depreciation expenses; Cr. Accumulated depreciation B. Dr. Accumulated depreciation; Cr. Depreciation expenses C. Dr. Fixed Assets; Cr. Accumulated depreciation D. Dr. Accumulated depreciation; Cr. Fixed Assets QUESTION 6 A sole trader took some goods costing $1,200 from inventory for his own use. The normal selling price of the goods is $1,600 Which of the following journal entries would correctly record this? A. Dr. Drawings account B. Dr. Drawing account C. Dr. Sales account D. Dr. Sales account 1,200; Cr. Inventory Account 1,200; Cr. Purchases account 1,200 1,200 1,200 1,600 1,200; Cr. Drawings account 1,600; Cr. Drawings account

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