MCQS ONLY

48.What are the journal entries to correct the following errors? Electricity bill amounting to 17000 for electricity being credited to the electricity account.Required to answer. Single choice.

(1 Point)

Debit Suspense account 34000 Credit electricity expenses 34000

Debit Suspense account 17000 Credit electricity expenses 17000

Debit electricity expenses 17000 Credit Suspense account 17000

Debit electricity expenses 34000 Credit Suspense account 34000

41.The Trail Balance of BSAF ltd is provided to you and you are required to answer the questions ACCOUNT DEBIT CREDIT SALES 150,000 PURCHASES 97,500 CARRIAGE INWARDS 1,680 CARRIAGE OUTWARDS 1,344 SALARIES AND WAGES 4,515 RENT 33,900 HEAT & LIGHT 1,320 SUNDRY EXPENSES 3,645 Opening INVENTORY 6,860 RECEIVABLES 31,500 DIVIDEND PAID 15,000 PAYABLES 28,350 CASH IN HAND 368 CASH AT BANK 87 SHARE CAPITAL 5,695 RESERVES 13,500 Total 197,632 197,632 Closing inventory has been counted and is valued at $8,232. What is total liabilities & equity

40,100

None of above

40,000

55,100

11,663