O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2013 · Q221 Mark

Rashid runs an advertising agency. He provided the following information. Amount owed by clients at start of year $100 Amount received from clients during the year $10000 Amount prepaid by clients at end of year $300 How much would be entered in the income statement for the year?

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A$9600

B$9800

C$10200

D$10400

✓ Correct answer

A: $9600

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 1, question 22.

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Rashid runs an advertising agency. He provided the following information. Amount owed by clients at start of year $100 Amount received from clients during the year $10000 Amount prepaid by clients at end of year $300 How much would be entered in the income statement for the year?

✓ Correct answer

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