During an accounting period, a business has numerous transactions affecting each of the following accounts. Select for each account what it is likely to have:
-Share capital
A) debit entries only
B) credit entries only
C) both debit and credit entries

Question

Quizplus · Accepted Answer

Share capital typically has credit entries only, as it represents the equity provided by shareholders to the company. Increases in share capital are recorded as credits, and it is unusual for share capital to decrease, which would be recorded as a debit.

During an Accounting Period, a Business Has Numerous Transactions Affecting