Specify if the account is a normal debit or credit: Shares
Specify if the account is a normal debit or credit: Asset
Specify if the account is a normal debit or credit: Cash
Specify if the account is a normal debit or credit: Expense
Specify if the account is a normal debit or credit: Accounts Payable
Specify if the account is a normal debit or credit: GST
Specify if the account is a normal debit or credit: Accounts Receivable
Specify if the account is a normal debit or credit: Loan
Bob (an independant operator) took a loan out for the puchase of a truck including GST. Would the Truck account be debit or credit?
Bob (an independant operator) took a loan out for the puchase of a truck including GST. Would the GST account be debit or credit?
Bob (an independant operator) took a loan out for the puchase of a truck including GST. Would the Loan account be debit or credit?
Bob (an independant operator) purchased fuel (including GST) on account and paid for a portion of his balance at a later date, which 3 accounts would be used for the purchase of the fuel.
Bob (an independant operator) receives a statement from his trucking company (employer) and earns income with fuel deducted from his pay for March, which is deposited in April. Which 3 accounts would be used to report the earned income.
Bob's earned income for March is now deposited in his account in April. Which 2 accounts are used?
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