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fast pleas Ms. Ameena an MBA degree holder from UK, worked as a Chief Accountant in a Manufacturing industries for 10 years. She then started

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Ms. Ameena an MBA degree holder from UK, worked as a Chief Accountant in a Manufacturing industries for 10 years. She then started her own business called Mobile World Solutions in Muscat. She is buying and selling mobile & software accessories in sultanate of Oman. The business uses periodic inventory system. All journal entries should be identified in the books of Mobile Word Solutions. Date Transactions 1st January Purchases 100 Galaxy mobiles at a cost of OMR 2020 120 each from Akbar Mobiles (wholesale merchandise) The payment terms are 5/10, n/30. 3rd January Purchases 100 external hard disk at a cost of OMR 2020 60 each Computer Supplies LLC (wholesale merchandise) The payment terms are 3/10, n/30. Trade discount was given by the supplier @5% on invoice price 5th January The business discovers that 25 of the Galaxy 2020 mobiles are wrong color and returns to Akbar mobiles for a full refund.. 10th January Full settlement was made by the business to Akbar 2020 mobiles. 15th February The business sold 100 Galaxy mobiles at a Cost 2020 OMR 150 each to Nizwa Mobiles (a retail merchandise). The payment terms are 2/10,n/60. 20th February Nizwa mobiles discovers that 30 mobiles which 2020 was purchased on 15th February 2020 are slightly damaged. The customer decides to keep the mobiles but receives a sales allowance OMR 5 per mobiles. 28th February Received full settlement from Nizwa mobiles. 2020 Which one of the following journal entry is Correct on 1st January 2020? Question 42 Not yet answered Marked out of 1.00 P Flag question a. Debit Accounts receivable OMR 11,400 Credit Sales OMR 11,400 O b. Debit Accounts payable OMR 12,000 Credit Purchase returns and allowances OMR 12,000 OC. Debit Purchase OMR 11,400 Credit Accounts payable OMR 11,400 d. Debit Purchase OMR 12,000 Credit Accounts payable OMR 12,000 Which one of the following journal entry is Correct on 15th February 2020? Question 43 Not yet answered Marked out of 1.00 Flag question a. Debit Accounts receivables OMR 15,000 Credit Sales returns and allowances OMR 15,000 O b. Debit Purchase OMR 15,000 Credit Accounts payable OMR 15,000 C. Debit Sales OMR 15,000 Credit Accounts receivables OMR 15,000 d. Debit Accounts receivable OMR 15,000 Credit Sales OMR 15,000 Which one of the following journal entry is Correct on 20th February 2020? Question 44 Not yet answered Marked out of 1.00 Flag question a. Debit Cash OMR 150 Credit Sales return and allowances OMR 150 b. Debit Accounts receivable OMR 150 Credit Cash OMR 150 c. Debit Sales return and allowances OMR 150 Credit Accounts receivable OMR 150 d. Debit Accounts payable OMR 150 Credit Purchase returns and allowances OMR 150 Identify the journal entry on 3rd January 2020? Question 45 Not yet answered Marked out of 1.00 O a. Debit Purchase OMR 5700 Debit Purchase Discount 300 Credit Accounts payable OMR 6000 b. Debit Purchase OMR 5700 Credit Accounts payable OMR 5700 OC. Debit Purchase OMR 6000 Credit Accounts payable OMR 6000 d. Debit Accounts receivable OMR 5700 Credit Sales OMR 5700 Flag

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