O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2023 · Q211 Mark

At 1 January 2022, there was a credit balance of $800 on the electricity account. Payments made during the year totalled $4900. At 31 December 2022, a further $1800 of electricity had been used since the last invoice was paid. What is the charge to the income statement for electricity for the year 2022?

A$2300

B$5900

C$6700

D$7500

✓ Correct answer

B: $5900

Oracle Prep sorts past-paper questions by topic, so you can drill Accounting procedures and see which topics are most likely to come up next.

Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 2, question 21.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content