On April 28th, paid OMR 5,000 for utility expenses for the month. The Journal Entry :should be اخترأحد الخيارات a. DEBIT Utilities Expense OMR 5,000 and CREDIT Accounts Payable OMR 5,000 b. None of the answers are correct c. DEBIT Utilities Expense OMR 5,000 and CREDIT Service Revenue OMR 5,000 d. DEBIT Accounts Receivable OMR 5,000 and CREDIT Utilities Expense OMR 5,000 e. DEBIT Utilities Expense OMR 5,000 and CREDIT Cash OMR 5,000

On April 28th, paid OMR 5,000 for utility expenses for the month. The Journal Entry :should be اخترأحد الخيارات a. DEBIT Utilities Expense OMR 5,000 and CREDIT Accounts Payable OMR 5,000 b. None of the answers are correct c. DEBIT Utilities Expense OMR 5,000 and CREDIT Service Revenue OMR 5,000 d. DEBIT Accounts Receivable OMR 5,000 and CREDIT Utilities Expense OMR 5,000 e. DEBIT Utilities Expense OMR 5,000 and CREDIT Cash OMR 5,000

Name: On April 28th, paid OMR 5,000 for utilityexpenses for the month. The
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Description: On April 28th, paid OMR 5,000 for utilityexpenses for the month. The Journal Entry:should beاخترأحد الخياراتa. DEBIT Utilities Expense OMR 5,000and CREDIT Accounts Payable OMR5,000b. None of the answers are correctc. DEBIT Utilities Expense OMR 5,00

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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The purchases journal for). K. Insurance for the month of October Is represented below. Accounts Payable Is account number 202 and Purchases Is account number 501. PURCHASES JOURNAL Page s Purchases Debit/ Accounts Payable Date Invoice No. From Whom Purchased Post Ref. Credit Oct. 2 3118 Express Florist 3,550.00 3119 T. C. S. Supplies 2,790.00 3120 Auto Body Repalr 3,850.00 Signs Unlimited 4,150.00 3121 Dynasty Limo 2,380.00 10 3122 15 3123 T. C. S. Supplles 2,150.00 18,870.00 Required: 1. Post the Information from the purchases journal to the appropriate general ledger and accounts payable ledger accounts. GENERAL LEDGER ACCOUNT NO. 202 ACCOUNT Accounts Payable BALANCE DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. P5 ACCOUNT NO. 501 ACCOUNT Purchases BALANCE DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. P5 ACCOUNTS PAYABLE LEDGER ACCOUNT Auto Body Repair
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b. Assume that Joey's Bike Shop uses the direct write-off method of accounting for uncollectible accounts. Answer the following questions: (1) What is the Accounts Receivable balance at December 31, Year 1? (2) What is the amount of uncollectible accounts expense for Year 1? (3) What is the net realizable value of accounts receivable at December 31, Year 1?
5. Jack's lawn care used the direct write-off method for accounting for uncollectible accounts. The company writes off $500 on Jane Doe's account. The journal entry to record this will include a debit of $500 to which account?
An invoice with an amount of OMR 8,500 dated March 20th, and terms of payment on ordinary dating 2/10, n/30 have been received. The bill is paid on April 18th. Which of the following is the last date of credit period? a. April 19th b. March 30th C. April 18th d. March 29th
Provide the answer is correct option
Use the unpaid balance method to find the finance charge on the credit card account for April. The starting balance from the previous month is $200. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 18% on the account and that the billing date is April 1st. ..... Date Transaction April 3 Charged $125 for a coat April 11 Made payment of $142 April 21 Charged $34 for DVDs April 28 Charged $25 for groceries The finance charge for the month of April is $enter your response here.
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