Chap 9
Quiz
•
Mathematics
•
University
•
Practice Problem
•
Easy
Hương Nguyễn
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39 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. A business preparing its financial statements for the year to 31 October pays rent quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was increased from £48,000 to £60,000 from 1 March 20X4. What figure should appear for rent in the SOPL for the year ended 31/10/20X4 and in the SOFP as at that date?
SOPL SOFP
A 56,000 10,000
B 52,000 5,000
C 56,000 5,000
D 55,000 10,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business has received telephone bills as follows:
A. 3,407.60
B. 3,351.60
C. 3,250.80
D. 3.463.60
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. A company receives rent form a large number of properties. The total cash received in the year ended 31/10/20X6 was £481,200. The following are the amounts of rent in advance and in arrears at 31/10/20X5 and 20X6:
A. 486,500
B. 460,900
C. 501,500
D. 475,900
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. A rent prepayment of £960 was treated as an accrual in a sole trader’s statement of profit or loss at the year end. As a result the profit was:
A. Understated by £960
B. Understated by £1,920
C. Overstated by £1,920
D. Overstated by £960
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. In the year ended 31 December 20X4, B Ltd received cash of £318,600 from subscribers to its website. Detail of subscriptions in advance and in arrears at the beginning and end of 20X4 are as follows:
A. £321,000
B. £336,400
C. £300,800
D. £316,200
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. A company receives rent for subletting part of its office block. Rent, receivable quarterly in advance, is received as follows:
A £33,500 Debit Accrued income (Debit) £6,000
B £33,500 Credit Deferred income (Credit) £6,000
C £34,000 Credit Deferred income (Credit) £3,000
D £34,000 Credit Accrued income (Debit) £3,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. During 20X4, Bibi paid a total of £60,000 for rent, covering the period from 1 October 20X3 to 31 March 20X5. What figures should be included in the financial statements for the year ended 31 December 20X4?
Statement of profit or loss Statement of financial position
A £40,000 £10,000 Prepayment
B £40,000 £15,000 Prepayment
C £50,000 £10,000 Accrual
D £50,000 £15,000 Accrual
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