Debit & Credit for Introduction of Capital

Q.

When cash is brought into the business as capital, which account is debited?

1. Bank account

2. Cash account

3. Customer account

4. Capital account

Q. When cash is brought into the business as capital, account is debited.

1. Cash
2. Capital
3. Bank
4. Customer

Q. Fill in the blanks with correct alternative and rewrite the statements.
Real accounts usually show a ____________ balance.

1. debit
2. credit
3. equal
4. unequal

Q. Select the most appropriate alternatives from those given below

Drawing account is closed by transferring the balance to the ___________ account
a) Drawing
b) Liabilities
c) Assets
d) Capital