A-LevelAccountingLimited Company AccountsOct/Nov 2012Paper 1 Q41 Mark
A trial balance shows the following information. $ premises at cost 150 000 accumulated depreciation on premises 25 000 On 1 January the premises are revalued at $270 000. At the same time 200 000 shares of $1 each are issued for $300 000. What is the value of the reserves created on 1 January?
A$120 000
B$145 000
C$220 000
D$245 000
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of limited company accounts within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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