A business purchased office furniture worth OMR 5000 and made 40% cash as part payment. The balance was on account . The effect on Account Payable A/C will be: Select one: a. Account Payable will decrease by OMR 2000 b. Account Payable will increase by OMR 2000 c. Account Payable will decrease by OMR 3000 d. Account Payable will increase by OMR 3000

A business purchased office furniture worth OMR 5000 and made 40% cash as part payment. The balance was on account . The effect on Account Payable A/C will be: Select one: a. Account Payable will decrease by OMR 2000 b. Account Payable will increase by OMR 2000 c. Account Payable will decrease by OMR 3000 d. Account Payable will increase by OMR 3000

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Payable is $2,800 The starting balance of Cash is $8,400 The starting balance of Debt is $3,400 The starting balance of Inventory is $4,200 1. Pay $6 owed to a supplier 2. Buy $17 worth of manufacturing supplies on credit 3. Borrow $55 from a bank What is the final amount in Debt? Note: No unit adjustments are necessary.
Get the balances of the T-accounts then prepare the 6 column worksheet. Bebang Inc is the company name and year 2020
if you post that transaction and run a Balance Sheet report in 2021, Accrued other expenses will be negative. How do you fix the negative balance? if the old transaction is Debit : Electricity 6550 : 1000$ Debit: Accrued Other Expenses 1000$ Credit: Account Payable: 2000$ . Thanks,
An establishment served 50 guests one day and achieved $800.00 in revenue. What is the check average for that day? 1) $14.00 O2) $16.00 3) $62.50 4) $6.25
How to adjust this? Prepaid rent 20,000
Old Oak Winery sold inventory for $330,000, terms 4/10, n/30. Cost of goods sold was $153,000. How much sales revenue will Old Oak Winery report from the sale? (Assume the company records sales at the net amount.) OA. $316,800 O B. $153,000 O C. $177,000 O D. $330,000 C
Which of the following journal entries will increase the total balance of the debit accounts in the ledger by $4,500? Select answer from the options below: A debit to Supplies for $4,500; a credit to Cash for $500; and a credit to Accounts Payable for $5,000. A debit to Supplies Expense for $4,500; a credit to Cash for $500; and a credit to Accounts Payable for $4,000. A debit to Accounts Payable for $4,500; and a credit to Cash for $4,500. A debit to Supplies Expense for $5,000; a credit to Cash for $500; and a credit to Accounts Payable for $4,500.
an invoice for kitchen appliances is dated December 23 and is paid on January 14 of the following year. credit terms are 2/15,n/45 EOM. The total amount, $497.48 includes a charge for freight and insurance of $62.43. A. What amount should be paid? B.How much is credited to the buyer's account? C. Is any money still owed after the payment?
June 12, 2024 Provide services to customers on account for $33,800. September 17, 2024 Receive $19,000 from customers on account. December 31, 2024 March 4, 2025 May 20, 2025 July 2, 2025 October 19, 2025 December 31, 2025 Estimate that 40% of accounts receivable at the end of the year will not be received. Provide services to customers on account for $48,800. Receive $10,000 from customers for services provided in 2024. Write off the remaining amounts owed from services provided in 2024. Receive $39,000 from customers for services provided in 2025. Estimate that 40% of accounts receivable at the end of the year will not be received. Required: 1. Record transactions for each date. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. 3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required…
Accounts Payable had a normal beginning balance of $1,000. During the period, there were debit postings of $400 and credit postings of $600. What was the ending balance? a. $800 debit b. $800 credit c. $1,200 debit d. $1,200 credit
At October 1, 2025, a company had an Accounts Payable balance of $140,000. During the month, the company made purchases on account of $100,000 and made payments on account of $160,000. At October 31, 2025, the Accounts Payable balance is $80,000 credit. $20,000 credit. $160,000 credit. $140,000 debit.
Which one of the following transactions can immediately improve the Debt to Total Assets Ratio? A Receive $5,200 cash for services provided and recorded before. B Provide services and receive $5,000 cash. C Adjust for the consumption of supplies after the annual stocktake. D Purchase Vehicle for $6,000 on credit. E Pay $2,300 annual insurance premium.

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