Purchase of fixed assets on credit terms

Question

A- cash account will be credit

B- cash account will be debit

C- fixed assets account will be debt

D- fixed assets account will be credit

Osama Raslan · Answer

C- fixed assets account will be debt

RIYAS BABU · Answer

C. fixed assets account will be debit and supplier will be credit

Naju Kollambady · Answer

Answer c, fixed account will be credited

Muhammad Ramzan Tufail ACCA · Answer

(C) is the Correct Ans.

On Purchase of Fixed Asset on Credit,

Dr. Fixed Assets XX

Cr. Accounts Payable XX

On Payment on Future,

Dr. Accounts Payable XX

Cr. Cash XX

DHANAPATI BHATTARAI · Answer

Fixed Account is Debited and Supplier will be Credited

IMRAN ALI MOHAMMED · Answer

Fixed Assets Account will be debited

Sundry Creditors will be credited.

Anas Dawah · Answer

C-----

- F.A account will be debt

Ghulam Muhammad Arain · Answer

F.A.A will be read as debit account.

Md. Moshiur Rahman Sumon · Answer

C-Fixed assets account will be debit is correct answer