Which of the following journal entries may be accepted as being correct according to their narratives?...

 

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Which of the following journal entries may be accepted as being correct according to their narratives? DR CR $ $ 38,000 49,000 1 2 3 ABCD Wages account Purchases account Buildings account Labour and materials used in construction of extension to factory Directors personal accounts: A B Directors' remuneration Directors' bonuses transferred to their accounts Suspense account Sales account 30,000 40,000 10,000 87,000 70,000 10,000 Correction of error in addition - total of credit side of sales account $10,000 understated 1 and 3 1 and 2 3 only 2 and 3 (2 marks) Which of the following journal entries may be accepted as being correct according to their narratives? DR CR $ $ 38,000 49,000 1 2 3 ABCD Wages account Purchases account Buildings account Labour and materials used in construction of extension to factory Directors personal accounts: A B Directors' remuneration Directors' bonuses transferred to their accounts Suspense account Sales account 30,000 40,000 10,000 87,000 70,000 10,000 Correction of error in addition - total of credit side of sales account $10,000 understated 1 and 3 1 and 2 3 only 2 and 3 (2 marks)

Answer rating: 100% (QA)

AnswerA 1 and 3 Explanation The extension to the factory is a construction under progre... View the full answer