200acc BDA Revision

Which of the following is least likely to be a prepayment?

• Insurance

• Advertising

• Interest

• Rent

Which type of depreciation remains constant over a number of years?

• Units of use

• Diminishing value

• Straight line

Which adjustment does not involve GST?

• Accounts Payable

• Income in advance

• Accounts receivable

• Bad debts

Which two items could lead to Accrued Income?

• Wages and interest

• Commission and rent

• Rent and sales

• Interest and dividends

If a business requires a deposit before they start a service, it would be classified as . . .

• Accrued income

• Income in advance

• Accounts receivable

• Term deposit

Cr interest income, Dr accrued income. Reason for journal entry?

• Interest received in advance

• Interest income owing

• Interest expense owing

Dr Income summary, Cr Expense. Reason for the journal entry?

• Closing off sales account

• Closing off income summary account

• Increasing sales account

• Closing off expense account

Debit entry for fees received in advance in the General Journal entry is

• Accrued Income

• Fees received

• Accrued Expense

• Income in advance

• Prepayment

Debit entry for increasing allowance for doubtful debts in the General Journal entry is

• Allowance for doubtful debts

• Bad debts

• Doubtful debts

• Accounts receivable

Credit entry for decreasing allowance for doubtful debts in the General Journal entry is

• Allowance for doubtful debts

• Bad debts

• Doubtful debts

• Accounts receivable