GCE Book Keeping 2015 Objective — Question 28
Question 28 of 40 from the General Certificate of Education (GCE) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
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The entries for cash withdrawn from the bank for office use are: debit
- A. Bank Account; credit Cash Account
- B. Cash Account; credit Bank AccountCorrect
- C. Drawings Account; credit Bank Account
- D. Bank Account; credit Drawings Account
Explanation
Withdrawing cash from the bank for office use (a contra entry, not personal drawings) is recorded by debiting Cash Account and crediting Bank Account.
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