John brought in an additional plant into his business. What are the accounting entries necessary…

Accounts - Principles of Accounts WAEC 1994

John brought in an additional plant into his business. What are the accounting entries necessary to reflect the transaction?

  • debit plant account, credit current account
  • debit current account, credit plant account
  • credit plannt account, credit profit and loss account
  • debit profit and loss account, credit plant account
  • debit plant account, credit capital account checkmark

The correct answer is: E

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