O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2011 · Q131 Mark

At the end of the financial year, Ryan owed $200 for motor expenses. How will this appear in Ryan's ledger and balance sheet?

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Amotor expenses account in the ledger: credit balance brought down, balance sheet: current asset

Bmotor expenses account in the ledger: credit balance brought down, balance sheet: current liability

Cmotor expenses account in the ledger: debit balance brought down, balance sheet: current asset

Dmotor expenses account in the ledger: debit balance brought down, balance sheet: current liability

✓ Correct answer

B: motor expenses account in the ledger: credit balance brought down, balance sheet: current liability

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2011 Paper 1 Variant 1, question 13.

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