Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Queso 26 Not yet answered Marked out of 1.00 On 8th September 2019, Salalah city executed a purchase order from a private company for printing
Queso 26 Not yet answered Marked out of 1.00 On 8th September 2019, Salalah city executed a purchase order from a private company for printing equipment worth OMR 9,850. On 19 October 2019, the government unit received the printing equipment from the private company. Later on 15th October 2019 the government unit prepares and sends a cheque of OMR 9,850 to the private company. The appropriate accounting treatment for the transaction on 9th September 2019 shall be Flag question Record two entries: 1. Dr budgetary fund balance reserved for encumbrance and Cr Encumbrance and 2 Dr: Expenditure-printing equipment and Cr bank Record one entry, Dr Encumbrance and Cr: Budgetary fund balance-reserved for encumbrance Record one entry: Dr. Printing equipment and Cr voucher payable Record two entries: 1. Dr budgetary fund balance-reserved for encumbrance and Cr Encumbrance and 2. Dr Expenditure-printing equipment and Cr voucher payable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started