Q32. | ||||||
Answer is C. Sales return and allowance | ||||||
Q33. | ||||||
Answer is B. 11200 | ||||||
Annual depreciation initially =70000/5 = 14000 | ||||||
BV on 1.1.14= 70000-14000 = 56000 | ||||||
Annual depreciation for 2014 = 56000/5 = 11200 | ||||||
Q34. | ||||||
Answer is A. 1906 | ||||||
Total checks written | 53596 | |||||
Less: Total cleared | 51690 | |||||
Checks outstanding | 1906 | |||||
Q35. | ||||||
Answer is A. $1200 credit | ||||||
Q36. | ||||||
Answer is A. Goods held on consignment from another company | ||||||
32. Which of the following accounts is classified as a contra revenue account? A) Sales Revenue...
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