on 8E-max sold Dishwashers on credit, worth OMR 55,000 to customers, out of these Dishwashers customers return damaged Dishwashersfor OMR 6,000. Record the entry for the Dishwashers returned?redd out ofO a. Debit Sales returns and allowance 6,000; Credit A/c Recelvable 6,000O b. Debit Accounts recelvable 55,000; Credit Refrigerators 55,000O C. Debit Bad debts expense 38,000; Credit A/c Recelvable 38,000ionO d. Debit A/c Receivable 6,000; Credit Sales returns and allowance 6,000tion 9retveredDohtar Power Company issues a cheque of OMR 10,000 to its supplier, but this was not shown on bank statement. How is this OMR 10,000shown on bank reconciliation statement?ced out ofO a. As an Unpresented cheque added to the bank statement balanceO b, As an Uncredited deposit added to the bank statement balanceagstionO C. As an Unpresented cheque deducted from the bank statement balanceO d. As an Uncredited deposit deducted from the bank statement balanceestion 10Which of the following is normally treated as a contingent liability?t yetsweredOa claims for damages by a customer, where the reporting company believes the customer will be unsuccessfularked out ofO b. none of theseFlagJostionO c. the corporation tax liability for the reporting periodO d. an electricity bill for the final quarter of the reporting period that has not been received by the year-endNext pageAFR d) へDELLF2F3F4ESF6F7F8F9F10F11LIO144%2448%23&3r50677 V998Y

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E-max sold Dishwashers on credit, worth OMR 55,000 to customers, out of these Dishwashers customers return damaged Dishwashers for OMR 6,000. Record the entry for the Dishwashers returned? O a. Debit Sales retuns and allowance 6,000; Credit A/c Receivable 6,000 O b. Debit Accounts recelvable 55,000; Credit Refrigerators 55,000 O C. Debit Bad debts expense 38,000; Credit A/c Recelvable 38,000 O d. Debit A/c Receivable 6,000; Credit Sales returns and allowance 6,000

E-max sold Dishwashers on credit, worth OMR 55,000 to customers, out of these Dishwashers customers return damaged Dishwashers for OMR 6,000. Record the entry for the Dishwashers returned? O a. Debit Sales retuns and allowance 6,000; Credit A/c Receivable 6,000 O b. Debit Accounts recelvable 55,000; Credit Refrigerators 55,000 O C. Debit Bad debts expense 38,000; Credit A/c Recelvable 38,000 O d. Debit A/c Receivable 6,000; Credit Sales returns and allowance 6,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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FINAL EXAM (page T o m sctedu.om/elearning/mod/a TAS - Salalah - ELearning Question 8 E-max sold Dishwashers on credit, worth OMR 55,000 to customers, out of these Dishwashers customers return damaged Dishwashers for OMR 6,000. Record the entry for the Dishwashers returned? Not yet answered Marked out of O a. Debit Sales returns and allowance 6,000; Credit A/c Recelvable 6,000 O b. Debit Accounts recelvable 55,000; Credit Refrigerators 55,000 O c. Debit Bad debts expense 38,000; Credit A/c Receivable 38,000 Od. Debit A/c Receivable 6,000; Credit Sales returns and allowance 6,000 P Flag question Question 9 Not yet answered Dohfar Power Company Issues a cheque of OMR 10,000 to its supplier, but this was not shown on bank statement. How is this OMR 10,000 shown on bank reconciliatian statement? Marked out af O a As an Unpresented cheque added to the bank statement balance o b. As an Uncredited deposit added to the bank statement balance P Flog question O C As an Unpresented cheque…
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A-8
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E6-2 Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales LO6-1 The following transactions were selected from the records of Ocean View Company: July 12 Sold merchandise to Customer R, who charged the $3,000 purchase on his Visa credit card. Visa charges OceanView a 2 percent credit card fee. 15 Sold merchandise to Customer S at an invoice price of $9,000; terms 3/10, n/30. 20 Sold merchandise to Customer T at an invoice price of $4,000; terms 3/10, n/30. 23 Collected payment from Customer S from July 15 sale. Aug. 25 Collected payment from Customer T from July 20 sale. Required: Assuming that Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two months ended August 31.