13. Which of the following types of account would normally have a debit balance on a trial balance? (1 Point) Non Current Asset Payables Bank Loan O Capital 14. CFC Ltd, is a retailer of protective clothing. They sell some ear defenders for $15,000 on credit terms. What is the correct double entry? (1 Point) Dr Receivables $15,000, Cr Sales $15,000 Dr Cash $15,000, Cr Sales $15,000 O Dr Sales $15,000, Cr Inventory $15,000 Dr Receivables $15,000, Cr Inventory $15,000 15. Which one of the following could be a reason why the trial balance doesn't balance? (1 Point) A purchase on credit was recorded using the double entry: Dr purchases $8,000. Cr payables $8,000 It was found that a sale on credit had been totally omitted from the accounting records Non current assets had been listed as a debit balance when preparing the trial balance The capital account had been listed as a debit balance when prepari the trial balance 16. On 1 November Marlon Ltd pays $81,000 to a consultant to do some work for them over the next 3 months. What figures should appear in the financial statements for the year ended 31 December? (1 Point) O Income statement $54,000, Statement of financial position $27,000 Prepayment O Income statement $54,000, Statement of financial position $27,000 Accrual O Income statement $81,000. Statement of financial position 50 0 Income statement $27,000, Statement of financial position $54,000 Prepayment 17. Tom incurred expenses during year he did not pay for. What is the correct double entry to use when accounting for an accrual? (1 Point) O Dr Accruals statement of financial position), Cr expense (income statement) Dr cash (statement of financial position). Cr accruals (statement of financial position) De expense (income statement). Cr accruals (statement of financial position) O Dr Accruals (statement of financial position). Or Cash (statement of financial position) 18. Which ONE of the following costs should be accounted for as capital expenditure (CAPEX)? (1 Point) O Repairs to the lift shaft of a building Import duties paid and included in cost of a new manufacturing machine A computer purchased for resale by a computer sales business Monthly maintenance 19. On 1 September Sebastien takes out a new a lease on a property and pays rent of $180,000 for the next 6 months. When preparing her accounts to 31 December, how should the rent be accounted for? (1 Point) O Expense $90.000 Accrual $90.000 O Expense $120,000, Accrual $60,000 O Expense $90,000, Prepayment $90.000 O Expense $120,000, Prepayment $60,000 20. What is the correct double entry for depreciation expense? (1 Point) Dr Depreciation pense C Non-cument asset (cost) OD Non-cument asset (cost) Cr Depreciation expense O Dr Depreciation expense, Cr Accumulated depreciation OD Accumulated depreciation, Cr Depreciation expense 21. Which of the following types of account would normally have a credit balance on a trial balance? (1 Point) O Non Current Asset O Payable O Expense O Prepayment 22. Which ONE of the following could explain why the trial balance does not balance? (1 Point) A credit sale was recorded using the double entry: De cash $15.000. Ce Sales $15.000 OA purchase made on credit terms was omitted from the accounting records O Wages expense has been listed as a credit balance when preparing the trial balance O The period end accruals and prepayments have not yet been included in the accounting records