O-LevelAccountingPreparation of financial statements7707/11 · May/June 2024 · Q211 Mark

A trader was preparing her statement of financial position at 30 June 2021. She had four bank loans. loan date repayable $ 1 1 December 2021 5000 2 1 December 2022 10000 3 1 September 2023 8000 4 1 December 2025 6000 What was the total amount of loans that should be recorded as non-current liabilities at 30 June 2021?

A$14000

B$15000

C$23000

D$24000

✓ Correct answer

D: $24000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 1, question 21.

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