O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2011 · Q221 Mark

On 1 August 2011 the opening balance of a receipts and payments account was $10 000. The following information is available for the month of August. café receipts $ 1400 depreciation 500 subscriptions 3100 wages 1800 What was the balance of the receipts and payments account on 31 August 2011?

A$6000

B$6500

C$12 200

D$12 700

✓ Correct answer

D: $12 700

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 2011 Paper 1 Variant 2, question 22.

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