Edexcel IGCSEAccountingGeneral Applications2 Marks
Raja maintains her books of account using the accruals concept. On 1 May 2019, she paid an annual insurance premium of \$2 400 for the period 1 May 2019 to 30 April 2020. Her financial year ends on 31 December each year. (b) Calculate the amount for insurance prepaid to be shown in the statement of financial position as at 31 December 2019.
- (b)Calculate the amount for insurance prepaid to be shown in the statement of financial position as at 31 December 2019.[2]
Mark scheme
Marking points from the official mark scheme. The mark or mark type is shown in brackets.
- M1 for 2400 / 12 (1)
- A1 for x 4 or 800 (1)
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