A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2015 · Q81 Mark

At 1 January 2014 a business had prepaid rent of $700. In July it paid an invoice for $9300 and on 31 December it transferred an expense of $9000 to the income statement. Which value appeared in the statement of financial position at 31 December 2014?

A$400 other payables

B$400 other receivables

C$1000 other payables

D$1000 other receivables

✓ Correct answer

D: $1000 other receivables

Practise more questions on this topic

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

About this question

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 8.

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

At 1 January 2014 a business had prepaid rent of $700. In July it paid an invoice for $9300 and on 31 December it transferred an expense of $9000 to the income statement. Which value appeared in the statement of financial position at 31 December 2014?

✓ Correct answer

Practise more questions on this topic

About this question

Related Accounting questions