O-LevelAccountingAccounting procedures7707/12 · May/June 2015 · Q101 Mark
At the end of the financial year, Ryan had accrued motor expenses of $200. How will this appear in Ryan's ledger and statement of financial position?
Amotor expenses account in the ledger: credit balance brought down, statement of financial position: current asset
Bmotor expenses account in the ledger: credit balance brought down, statement of financial position: current liability
Cmotor expenses account in the ledger: debit balance brought down, statement of financial position: current asset
Dmotor expenses account in the ledger: debit balance brought down, statement of financial position: current liability
✓ Correct answer
B: motor expenses account in the ledger: credit balance brought down, statement of financial position: current liability
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