Included in the Bank Statement Was a Debit for the Current

question 27

Multiple Choice

Included in the bank statement was a debit for the current month's electricity usage.What entry is required in the company's accounts?

• A) Dr Electricity expense\(\quad \)\(\quad \)\(\quad \)Cr Cash
• B) Dr Cash\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)Cr Electricity revenue
• C) Dr Cash\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)\(\quad \)Cr Electricity expense
• D) Dr Accounts payable\(\quad \)\(\quad \)\(\quad \)\(\quad \)Cr Cash

Calculate the proceeds and selling prices of non-interest-bearing promissory notes.

Comprehend and calculate interest earnings on various savings accounts based on daily closing balances.

Understand how to calculate and compare the interest earned on different investment vehicles over specified periods.

Analyze and construct loan repayment schedules incorporating principal and interest components.

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Definitions:

Metric System

A decimal system of measurement based on meters, liters, and grams as units of length, volume, and weight, respectively.

Incentive Spirometer

A medical device used to help patients improve the functioning of their lungs and to prevent pulmonary complications by encouraging deep breathing.

Abdominal Surgery

A surgical procedure involving the opening of the abdomen to diagnose, treat, or prevent disease in various abdominal organs.

Material Reinforcement

Strengthening a material by adding a second material to it, often used to increase the durability, strength, or resistance of the original material.