ابدأ بالتواصل مع الأشخاص وتبادل معارفك المهنية

أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.

Wasim khan wazir
من قبل Wasim khan wazir , Finance Specialist , Mott Macdonald

Option D.,,,,,,,,,,,,,,,,,,,,,,,,,

Shahbaz Hayder
من قبل Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Out of available options option D is the right answer.

ayaz sattar
من قبل ayaz sattar , accounts and exports controller , NAS TRADING & EXPORTS

Cash received for services rendered will increase the cash and equity.

Wodeya David
من قبل Wodeya David , Administrative Assistant , Tumewoks investments Ltd

it will increase cash and equity since it is income

G M Masudur Rahman
من قبل G M Masudur Rahman , Manager Accounts & Finance , Noman Group of Industries

D will be answer..............................................

lakshminarasimham mallareddi
من قبل lakshminarasimham mallareddi , Manager Finance & Accounts , M/s. Vandana Global Limited, Raipur, Chhattisgarh

Correct Answer is A) Increase cash and liability if cash received for services rendered.

Charles Reis
من قبل Charles Reis , Founder and Principal Audit Consultant , Panalto Consulting

The above answers would only make sense if the question was re-written like this:

"Cash received IN ADVANCE for services YET to be rendered will" etc. 

 

As the question is written, all of the alternatives are incorrect.

مستخدم محذوف‎
من قبل مستخدم محذوف‎

It will increase cash and the equity.

The journal entry should be:

Cash (Dr)                    x,xxx.xx

     Service Income (Cr)                   x,xxx.xx

 

Service Income is part of Equity.

مستخدم محذوف‎
من قبل مستخدم محذوف‎

D) Increase Cash and Equity ............................................................. cash received for services will form part of the organisation revenue which intend will contribute to the ascertainment of retained earnings after expense deduction. Retained earnings will be added to stated capital hence increase in equity.

Michael Lagunday
من قبل Michael Lagunday , Accounts Assistant , Invest Group Overseas LLC

My answer is D. Increases cash and equity

 

Cash received for services rendered is recorded through debit to cash and credit to sales (closed to equity).