Question
Please answer me tutor thanks The following selected accounts are taken from the books of RST Trading on April 30 before adjustment. RST has a
Please answer me tutor
thanks
The following selected accounts are taken from the books of RST Trading on April 30 before adjustment. RST has a monthly accounting period:
Accounts ReceivableP5,000BuildingP50,000
Sales75,000Service Income10,000
Prepaid Rent6,000Salaries Expense20,000
Adjustment data on April 30:
a)2 % of sales is estimated to be uncollectible.
b)Rent expired, P2,000.
c)Salaries unpaid, P 1,500.
d)Building will be depreciated at 20% per annum, with useful lie of 10 years.
e)Income unearned , P10,000.
The entry to record depreciation (d) is
Select one:
a. Depreciation ExpenseP833
Accumulated DepreciationP833
b. Depreciation ExpenseP10,000
Accumulated DepreciationP10,000
c. Depreciation ExpenseP5,000
Accumulated DepreciationP5,000
d. Accumulated DepreciationP833
Depreciation ExpenseP833
Cebu Trading sold to Manila Store goods with a listed price of P100, 000. Term of sale: Trade discount of 3% and 2%. Payment terms: 2/10,n/30.
The total trade discount is
Select one:
a. P7,000
b. P2,000
c. P 4,940
d. P5,000
Cebu Trading sold to Manila Store goods with a listed price of P100, 000. Term of sale: Trade discount of 3% and 2%. Payment terms: 2/10,n/30.
If Manila Store paid within the discount period, it will pay
Select one:
a. P 98,000
b. P93,158.80
c. P93,000
d. P 95,000
Cebu Trading sold to Manila Store goods with a listed price of P100, 000. Term of sale: Trade discount of 3% and 2%. Payment terms: 2/10,n/30.
Cebu Trading will record a sale of
Select one:
a. P95,060
b. P95,000
c. P97,000
d. P100,000
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