Smith Bicycles Ltd sold Office Furniture on Credit to Johnson Ltd for $2000. The transaction was recorded in the Sales Journal and posted to the accounts in the General Ledger of Smith Bicycles Ltd. The accounting entry to correct this transaction is a. No entry required b. Dr Sales S2000, Or Accounts Receivable - Johnson $2000 and Dr Sundry Debtor - Johnson S2000, Cr Office Furniture $2000 recorded in the General Journal Oc. Dr Sales $2000, Cr Accounts Receivable - Johnson $2000, recorded in the General Journal Od Dr Accounts Receivable-Johnson $2000, Cr Office Furniture $2000, recorded in the General Journal You are the accountant for Smith Trading. You have detected an error. Rent Expense was recorded as $540 and posted to the Rent Expense and Cash at Bank accounts in the General Ledger of Smith Trading. The correct Rent Expense should be $450. The accounting entry to correct this error is O a. Dr Cash at Bank $90, Cr Rent Expense, recorded in the Cash Payments Journal O b. Dr Rent Expense $450, Cr Cash at Bank $450, recorded in the Cash Payments Journal Oc. Dr Cash at Bank $90, Cr Rent Expense, recorded in the General Journal d. Dr Rent Expense $450, Cr Cash Bank $450, recorded in the General Journal You are the accountant for Smith Trading. Smith Trading owes Jones Corporation Ltd $1000. At the same time Jones Corporation Ltd owes Smith Trading $400. This can be offset by which journal entry? O a. Dr Accounts Payable Jones Corporation $400, Cr Accounts Receivable Jones Corporation $400 Ob Dr Accounts Receivable Jones Corporation $1000, Cr Accounts Receivable Jones Corporation $1000 OC. Dr Accounts Receivable Jones Corporation $400, Cr Accounts Payable Jones Corporation $400 O d. Dr Accounts Payable Jones Corporation $1000, Cr Accounts Receivable Jones Corporation $1000 Which accounts are listed incorrectly in the Trial Balance of T Timmins below? (choose the most correct answer) Trial Balance of T. Timmins on 30 June 20xx Accounts Dr $ Cr $ Cash at bank 31,960 Accounts receivable control 19,200 Purchases 17,340 Rates 1,200 Accounts payable control 25,200 Motor vehicle 19,700 Motor vehicle repair expense 300 Sales 13,300 Sales returns 300 Electricity 400 Drawings 500 Loan 15,500 Capital 35000 Rent revenue 700 Total: 89,700 89,700 a. Electricity and Sales b Sales c. Rates d. Rates, Sales, Electricity Using the information in the following Sales Returns Journal of Smith and Jones Pty Ltd and the Debtors Subdiary Ledger of Smith and Jones Pty Ltd. What is the balance owing of P Huntsman at 30 June? Sales Returns Journal of Smith & Jones Pty Ltd Date (20x) Particulars Credit Note No. 1 June D Wilson 45 5 June A Johnson 46 Amount $ $325 $285 17 June P Huntsman 47 $312 30 June Total $922 Credit $ Balance $ Dr/Cr Debtors Subsidiary Ledger: P Huntsman Date (20xx) Particulars Debit $ 14 June Sales 200 5 June Sales 300 200 Dr 500 Dr 7 June Cash 100 400 Dr 0 a $88 O b. $922 Oc. $312 Od $400
