Question 26 (1 point)

On March 01, 2022, XYZ Corporation paid shareholders dividends of $15,000. In the journal, you need to:

Options from Question 26:

a)Debit dividends for $15,000 and credit share capital for $15,000

b)Debit cash for $15,000 and credit share capital for $15,000

c)Debit dividends for $15,000 and credit cash for $15,000

d)Debit share capital for $15,000 and credit cash for $15,000

Question 27 (1 point)

On February 02, 2023, purchase on credit an inventory of office supplies of $4,200 to be used in March. The company closes its accounts monthly, on the last day of the month. On February 02, 2023:

Options from question 27:

a)Debit "office supplies inventory" for $4,200, debit "office supplies used" for $4,200 and credit "suppliers" for $8,400

b)Debit "office supplies inventory" for $4,200 and credit "suppliers" for $4,200

c)Debit "office supplies inventory" for $4,200 and credit "cash" for $4,200

d)Debit "office supplies used" for $4,200 and credit "suppliers" for $4,200

Question 28 (1 point)

In March 2023, ABC Company Inc. sold (and delivered) services for $120,000, of which $100,000 was collected in cash; the balance will be collected (cashed) in January 2024. The company's 2023 income statement should show which of the following amounts for service revenue?

Options for question 28 :

a)220 000 $

b)100 000 $

c)20 000 $

d)120 000 $

Question 29 (1 point)

December 2022 wages are $3,500 and will be paid in full on January 02, 2023. As of December 31, 2022, you need:

Options for Question 29 :

a)Debit "wages" for $3,500 and credit "cash" for $3,500.

b)Debit "wages" for $3,500 and credit "wages payable" for $3,500

c)Debit "salaries" for $3,500 and credit "share capital" for $3,500

d)Debit "wages" for $3,500, credit "prepaid wages" for $3,500

Question 30 (1 point)

On 04-03-2023, the company pays the electricity bill for $800. In the journal, you should:

Options for Question 30:

a)Debit "prepaid electricity" for $800 and credit "vendor" for $800

b)Debit "electricity" for $800 and credit "cash" for $800

c)Debit "electricity" for $800 and credit "supplier" for $800

d)Debit "RND" for $800 and credit "cash" for $800