- Estion 6 Ot Yet Nswered Arked Out Of Fgh Company Purchased An Equipment From Uk On June 1 2020 And Paid Omr 10 000 The 1 (58.28 KiB) Viewed 91 times
estion 6 ot yet nswered arked out of FGH
Company purchased an equipment from UK on June 1, 2020 and paid OMR 10,000. The
company paid OMR 500 for freight and OMR 300 for installation. Upon installation, a staff damaged a part by his own negligence and repairs was made costing OMR 200. The journal entry made was a debit to equipment of OMR 10,800. Is the accountant correct and what should be the credit? - Flag
question a. No, he is not correct because equipment should be debited by OMR 10,00 and a credit to cash of OMR 10,000 b. Yes, he is correct and the credit should be cash for OMR 11,000 OC. Yes, he is correct and the credit should be cash for OMR 10,800 Od. No, he is not correct because equipment should be debited by OMR 10,800, debit to repairs of OMR 200 and a credit to cash of OMR 11,000