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QUESTION 28 All statement are limitations of trial balance Except: Oa the purchase of Supplies on account is debited to Supplies and credited to Cash. OMR 650 collected from customer, is debited to cash for OMR650 and credited to account receivable for OMR65 OMR 100 cash drawing by the owner is debited to Owner's Drawings for OMR 1,000 and credited to Cash for OM transaction is not journalized. Od

QUESTION 28 All statement are limitations of trial balance Except: Oa the purchase of Supplies on account is debited to Supplies and credited to Cash. OMR 650 collected from customer, is debited to cash for OMR650 and credited to account receivable for OMR65 OMR 100 cash drawing by the owner is debited to Owner's Drawings for OMR 1,000 and credited to Cash for OM transaction is not journalized. Od

FINANCIAL ACCOUNTING
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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QUESTION 28 All statement are limitations of trial balance Except: Oa the purchase of Supplies on account is debited to Supplies and credited to Cash. OMR 650 collected from customer, is debited to cash for OMR650 and credited to account receivable for OMR650, OMR 100 cash drawing by the owner is debited to Owner's Drawings for OMR 1,000 and credited to Cash for OMR 100. transaction is not journalized. Od.
Transcribed Image Text:QUESTION 28 All statement are limitations of trial balance Except: Oa the purchase of Supplies on account is debited to Supplies and credited to Cash. OMR 650 collected from customer, is debited to cash for OMR650 and credited to account receivable for OMR650, OMR 100 cash drawing by the owner is debited to Owner's Drawings for OMR 1,000 and credited to Cash for OMR 100. transaction is not journalized. Od.
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