Accounts - Principles of Accounts Past Questions and Answers

Use the information below to answer question.
Ezekiel Malgwi is a retailer. He recorded sales representing 95% cash and 5% credit. He took the total cash sales of N19000 from the business tray and banked it.
The transaction would be recorded in the cash book as debit?

Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

The transaction that completes its double entry in the same ledger account appears in?

The recording phase of accounting is known as?

Given:
Capital ...........N1000
Liabilities........N500
Assets.............N1500
The accounting equation can be expressed as?