Ram sold goods worth 1000. what will be accounting entry
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- The company made a sale of goods for RO. 15000 (cost RO 10000) and received 30% in cash and balance on the account. Which of the following is the correct presentation on the accounting equation? Select one: a. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +12000 (Cash ) = 0 + + 2000 (Profit) b. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +4500 (Cash) + 10500 (Receivables) = 0 + + 5000 (Profit) c. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +12000 (Cash ) = 0 + + 2000 (Profit) d. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +4500 (Cash) = + 11500 (Receivables) + + 3000 (Profit)Rashid pays took goods worth £500 from the company. The entries in Rashid's accounts should be:The company bought goods worth RO. 15000. For cash RO. 8000 and the balance on credit. Which of the following is the correct presentation on the accounting equation? Select one: a. Assets = Liabilities + Owners' Equity +15000 (stock of goods) -8000 (cash) = 7000 (payables ) + 0 b. Assets = Liabilities + Owners' Equity -8000 (cash) = +15000 (stock of goods) + -7000 (payables ) c. Assets = Liabilities + Owners' Equity +15000 (Stock of goods) = +7000 (Payables) + +8000 (Cash ) d. Assets = Liabilities + Owners' Equity +15000 (stock of goods) -8000 (cash) = 0 + 7000 (payables )
- The company made a sale of goods for RO. 15000 (cost RO 10000) and received 30% in cash and balance on the account. Whích of the following is the correct presentation on the accounting equation?The company made a sale of goods for RO. 10000 (cost RO 12000) and received 45% in cash and balance on the account. Which of the following is the correct presentation on the accounting equation? Select one: a. Assets = Liabilities + Owners' Equity -12000 (stock of goods) +4500 (Cash) + 5500 (Receivables) = 0 + - 2000 (Loss) b. Assets = Liabilities + Owners' Equity -12000 (stock of goods) +4500 (Cash) = + 5500 (Payable) + - 2000 (Loss) c. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +4500 (Cash) = + 5500 (Payable) + + 2000 (Profit) d. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +4500 (Cash) = + 5500 (Receivables) + + 2000 (Profit)Purchased stationery on credit from P.Radebe for R100.What effect will it have on the accounting equation.
- choose the correct answer If the ending balance of accounts payable is ₱100,000 and the total debits and credits to that account during the period were ₱60,000 and ₱40,000, respectively, the beginning balance must be A. 0 B. 20,000 C. 80,000 D. 120,000' What is the normal balance of the purchase returns account? a. debit b. credit c. zero d. none of these A business sells goods on cash basis. This transaction is most likely recorded in which of the following special journals? a. Sales journal b. Purchases journal c. Cash receipts journal d. Cash disbursement journalT Tallon had the following transactions: 1 Sale of goods on credit for $150 to F Rogit 2 Return of goods from B Blendigg originally sold for $300 in cash to B Blendigg What are the correct ledger entries to record these transactions?Cracker & Company sold merchandise to a customer on credit. The sale price was $8,000. What would be the effect of this transaction on the accounting equation? Select the correct option form screenshot.
- Based on this information can you create an Income Statment Accounts Receivable $1,200 Accounts Payable $20,200 Advertising Expense $750 Cash $28,600 Cost of Goods Sold $8,800 Drawings by Owner $1,625 Equipment $5,150 Interest Expense $300 Interest Payable $300 Inventory $3,900 Investments by Owner $10,000 Rent Expense $3,600 Sales Returns $600 Sales Revenue $11,900 Service Revenue $20,750 Supplies $600 Supplies Expense $2,025 Utilities Expense $600 Wages Expense $5,400Enter the following transaction in the ledger accounts and balance them October 2020: 1 Started in business with Ksh. 75,000 cash. 3 Bought goods for cash Ksh. 11,000. 7 Bought goods on credit Ksh. 32,000 from F Herd. 10 Sold goods for cash Ksh. 6,400. 14 Returned goods to F Herd Ksh. 4,600. 18 Bought goods on credit Ksh. 41,400 from D Exodus. 21 Returned goods to D Exodus Ksh. 3,100. 24 Sold goods to B Squire Ksh. 8,200 on credit. 25 Paid F Herd’s account by cash Ksh. 27,400. 31 B Squire paid us his account in cash Ksh. Ksh. 8,200.Please present your solution in good accounting form. Thank you! 1.) What is the inventory value of the units unsold in the hands ofthe consignee?A. 150,000 C. 154,500B. 153,000 D. 157,500 2.) What is the profit of the consignor for the units sold?A. 24,000 C. 27,000B. 26,000 D. 70,000