A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2015 · Q21 Mark

A trader sends his staff on a training course costing $100 per person. 10 staff attended in April and 4 in May. Half the total cost had to be paid at the start of April and the balance at the end of May. Which entry for training was made in the statement of financial position on 30 April?

A$300 accrual

B$400 accrual

C$600 prepayment

D$700 prepayment

✓ Correct answer

A: $300 accrual

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2015 Paper 1 Variant 2, question 2.

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A trader sends his staff on a training course costing $100 per person. 10 staff attended in April and 4 in May. Half the total cost had to be paid at the start of April and the balance at the end of May. Which entry for training was made in the statement of financial position on 30 April?

✓ Correct answer

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