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O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2020 · Q21 Mark

The balances remaining on the books of a business after the preparation of the income statement included the following. $ loan from XY Finance 10000 wages due 620 rent prepaid 240 trade receivables 3300 trade payables 4650 motor vehicles 8000 provision for depreciation of motor vehicles 2000 What was the total of the liabilities?

A$13920
B$14890
C$15270
D$17270

✓ Correct answer

C: $15270

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2020 Paper 1 Variant 1, question 2.

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