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please answer these 3 questions for me Hardly Office Furniture is in business of selling office furniture to the general public. The business is in
please answer these 3 questions for me
Hardly Office Furniture is in business of selling office furniture to the general public. The business is in need of more operating funds. QVB Bank have granted Hardly a $20,000 loan, repayable in 3 years. Which general journal entry should be used to record the loan received from QVB Bank? Select one: a. Dr 20,000 Cr Bank Loan from Bank Loan from Bank 20,00 b. Dr 20,000 Cr Bank Liability Loan from Bank 20,00 Dr 20,000 Cr Bank Capital Loan from Bank 20,00 d. Dr .- - 20,000 The following statements relate to the petty cash imprest system. Indicate which statements are false or incorrect. Select one or more: a. You need only a receipt to reimburse an employee for a business expense incurred b. At all times, the value of the cash and authorised petty cash vouchers must equal the original amount advanced. X c. Shortages in the petty cash tin do not need to be disclosed. The petty cash cashier need only reimburse the petty cash tin for difference between the float and the cash in the tin. d. Petty cash vouchers must be completed, with relevant vouchers or dockets attached and authorised before the expense can be reimbursed. st Hardly Office Furniture is in the business of selling office furniture to the general public. On 21 July an amount of $1,980 was received from a customer, which had been previously written off as a bad debt. Which of the following entries should be used to record this transaction into the books of the business? Select one: a. Debit Accounts Receivable control Credit Bank Recovery of bad debt 1,980 1.980 b. Debit Bad Debts 1,800 Debit GST Receivable 180 Credit Bank 1,980 Recovery of bad debtStep by Step Solution
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