1-A Merchandise business paid cash for Travelling expenses of OMR 30. But it was recorded as Debit Cash OMR 30 and Credit Travelling expenses OMR 30. Which of the following rectification entry will be correct? a. Debit Cash OMR 60 Credit Travelling expenses OMR 60 b. Debit Travelling expenses OMR 60 Credit Cash OMR 60 c. Debit Travelling expense OMR 15 Credit Cash OMR 15 d. Debit Travelling expense OMR 30 Credit Cash OMR 30

Entity A  has an incentive compensation plan under which the sales manager receives a bonus equal to 10percent of the company's income after deductions for bonus and income taxes. Income before bonus and incometaxes is P500,000. The effective income tax rate is 30 percent. How much is the amount of bonus (rounded to the nearest peso)?a. 32,710 b. 60,748 c. 30,974 d. 37,210   How much is the amount of income tax?a. 131,776 b. 140,708 c. 138,837 d. 140,187

A £500 cash sale was entered as a debit in the sales account and a credit in the bank account. What type of error is this? Select one: A. Compensating B. Ommission C. Reversal of entries O D. Original entry E. Commission O F. Principle