O-LevelAccountingAccounting proceduresOct/Nov 2010 · Q141 Mark

Paul's financial year ends on 31 December. He purchased premises on 1 July 2008. The insurance premium payable on the premises was: 1 July 2008 – 30 June 2009 | 1800 1 July 2009 – 30 July 2010 | 2000 How much was transferred from the insurance on premises account to the income statement (profit and loss account) for the year ended 31 December 2009? A $1800 B $1900 C $2000 D $2900

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2010). The mark or mark type is shown in brackets.

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Structured question, 1 mark.
Source: O-Level Accounting, Oct/Nov 2010 Variant 1, question 14.

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