O-LevelAccountingAccounting procedures7707/11 · May/June 2014 · Q111 Mark

On 1 January the motor expenses account had a credit balance of $135. During the year payments of $462 were made. On 31 December $74 remained unpaid. Which amount was transferred to the income statement on 31 December?

A$253

B$401

C$523

D$671

✓ Correct answer

B: $401

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2014 Paper 1 Variant 1, question 11.

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