O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2013 · Q91 Mark

Ashraf sublets part of his premises for $100 per month. At the end of the financial year the tenant had paid rent totalling $1000. Which journal entry would Ashraf make to record the transfer to the income statement? debit $ credit $

Aincome statement 1000 rent 1000

Bincome statement 1200 rent 1200

Crent 1000 income statement 1000

Drent 1200 income statement 1200

✓ Correct answer

D: rent 1200 income statement 1200

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 9.

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