9. What double entry is required to close off the following bank account at the end of theaccounting period?BANKGHC300 Purchases200 Wages and Salaries38,200 DrawingsGHCOpening balance b/fSalesReceivables12,00018,5001,000300Debit SideClosing balance c/f GHC6,900.Opening balance b/f GHC6,900Closing balance c/f GHC7,200.Opening balance b/f GHC7,200.Credit SideOpening balance b/f GHC6,900Closing balance c/f GHC6,900Opening balance b/f GHC7,200Closing balance c/f GHC7,200A.C.D.

Bank account is a current asset of the business. This account normally have debit balance. So, it's…

9. What double entry is required to close off the following bank account at the end of the accounting period? BANK Opening balance b/f Sales Receivables GHC 300 Purchases 200 Wages and Salaries 38,200 Drawings GHC 12,000 18,500 1,000 300 Debit Side Credit Side Closing balance c/f GHC6,900. Opening balance b/f GHC6,900 Closing balance c/f GHC7,200. Opening balance b/f GHC7,200. Opening balance b/f GHC6,900 Closing balance c/f GHC6,900 Opening balance b/f GHC7,200 Closing balance c/f GHC7,200 A. С. D.

9. What double entry is required to close off the following bank account at the end of the accounting period? BANK Opening balance b/f Sales Receivables GHC 300 Purchases 200 Wages and Salaries 38,200 Drawings GHC 12,000 18,500 1,000 300 Debit Side Credit Side Closing balance c/f GHC6,900. Opening balance b/f GHC6,900 Closing balance c/f GHC7,200. Opening balance b/f GHC7,200. Opening balance b/f GHC6,900 Closing balance c/f GHC6,900 Opening balance b/f GHC7,200 Closing balance c/f GHC7,200 A. С. D.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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