Select the Entry Which Correctly Records the Purchase of a Building

question 12

Multiple Choice

Select the entry which correctly records the purchase of a building for $300 000 financed by a $100 000 cash deposit with the balance payable via a 20 year, 8% mortgage. Ignore GST.

• A) DR buildings $100 000; CR bank $100 000
• B) DR buildings $300 000; CR bank $300 000
• C) DR buildings $300 000; CR bank $100 000; CR mortgage $200 000
• D) DR buildings $300 000; CR capital $300 000

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Definitions:

Spermatogenesis

The process of sperm cell development, occurring within the male gonads or testes.

Spermatozoa

Male reproductive cells or sperm, capable of fertilizing an egg in sexual reproduction.

Rete Testis

A network of tubules located in the testis that functions in the transport of sperm from the seminiferous tubules to the efferent ducts.

Epididymis

A long, coiled tube that stores sperm and transports it from the testes.