Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

21 Shaima traders returns goods worth $350 to Al Fatima LLC. What journal entry will be recorded by Shaima Traders to record the above transaction?

21\ Shaima traders returns goods worth $350 to Al Fatima LLC.

What journal entry will be recorded by Shaima Traders to record the above transaction?

a\ Dr. Payables Cr. Purchase Returns

b\ Dr. Purchases Cr. Payables

c\ Dr. Sales Returns Cr. Receivables

d\ Dr. Payables Cr. Purchases

22\ Credit Notes sent to customers are recorded in:

a\ Journa

b\ lSales Returns Day Book

c\ Sales Day Book

d\ Purchase Returns Day Book

24\ Which of the following costs may be included when arriving at the cost of finished goods inventory for inclusion in the financial statements of a manufacturing company?

a\ 2 and 3

b\ 1 and 4

c\ 3 and 4

d\ 1 and 3

1 Freight inwards

2 Freight outwards

3 Depreciation of factory plant

4 Finished goods storage costs

Choose the correct answer, give me the question number and the answer code.

I hope that you will help me and solve all the questions.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Identify the variables in expectancy theory.

Answered: 1 week ago

Question

What is the cerebrum?

Answered: 1 week ago