O-LevelAccountingAccounting procedures7707/11 · May/June 2011 · Q231 Mark

Tarrant produced a statement of affairs at 31 December 2009 and at 31 December 2010. During 2010 his long term loan increased by $3000 and his net current assets decreased by $1000. Depreciation for the year was $500. By how much did the total of Tarrant's capital decrease?

A$2500

B$3500

C$4000

D$4500

✓ Correct answer

D: $4500

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2011 Paper 1 Variant 1, question 23.

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