O-LevelAccountingSources and recording of data7707/11 · May/June 2011 · Q81 Mark

Jane, a trader, withdrew $50 from the business bank account for office use. How is this recorded in Jane's books?

Aaccount to be debited: bank; account to be credited: cash

Baccount to be debited: bank; account to be credited: drawings

Caccount to be debited: cash; account to be credited: bank

Daccount to be debited: drawings; account to be credited: bank

✓ Correct answer

C: account to be debited: cash; account to be credited: bank

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2011 Paper 1 Variant 1, question 8.

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