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MH Sdn. Bhd. purchases a ceramic machine for RM30,000 by paying cash of RM20,000 and the balance is on account. Which of the followings would
MH Sdn. Bhd. purchases a ceramic machine for RM30,000 by paying cash of RM20,000 and the balance is on account. Which of the followings would occur? A. Accounts Payable is debited for RM10,000 and Cash is credited for RM20,000; ceramic machine is credited for RM30,000 B. ceramic machine is debited for RM30,000; Cash is credited for RM20,000; and Accounts Payable is credited for RM10,000. C. Cash is debited for RM20,000; ceramic machine is debited for RM10,000; and Accounts Payable is credited for RM30,000. D. Accounts Payable is debited for RM30,000; Cash is credited for RM20,000; and ceramic machine is credited for RM10,000 An office building with an acquisition cost of RM960,000 on 1 April 2019 is depreciated at 10% per annum. The necessary adjusting entry for the period ended at 31 December 2019 is Debit (RM) Credit (RM) A. Depreciation Expense RM72,000 Accumulated Depreciation RM72,000 Depreciation Expense RM96,000 Accumulated Depreciation RM96,000 c. Accumulated Depreciation RM72,000 Depreciation Expense RM72,000 D Accumulated Depreciation RM96,000 Depreciation Expense RM96,000 B. The balance in the Office Supplies account before adjustment at 31 December 2019 was RM48,000. A physical check on office supplies has indicated an available balance of RM8,000. The adjusting entry necessary is: Debit (RM) Credit (RM) A. Office Supplies Expense RM8,000 Office Supplies RM8,000 B. Office Supplies RM40,000 Office Supplies Expense RM40,000 C. Office Supplies Expense RM40,000 Office Supplies RM40,000 D. Office Supplies Expense RM48,000 Office Supplies RM48,000
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