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15. Tona Enterprises lets out office space to SP Trading for N$1,000 a month. At the end of the year, their bank statement shows that

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15. Tona Enterprises lets out office space to SP Trading for N$1,000 a month. At the end of the year, their bank statement shows that they received an extra payment of N$1000 in advance. How would you record the N$1,000 in this year's books? Select one: Ca. Dr Bank Cr Rent b. Dr Pre-paid income Cr Rent c. Dr Bank Cr Pre-paid Income 16. Who administer Value Added Tax in Namibia? Select one: Ca. Customs & Excise Department b. Receiver of Revenue Department Cc. Minister of Finance Cd. Legal Department 17. The following balances from the pre-adjusted trial balance of Quick books CC Capital 10,000 Vehicles (at Carrying amount) 10,000 Total Expenses 10,000 Sales (VAT inclusive) 20,700 Cost of sales 9,000 Gain on disposal of vehicle 300 Using the given data, what is the value of gross profit (2) Select one: Ca. 12 000 b. 9 000 c. 11 700 Ed. 9 300 18. Select the appropriate journal entry for closing off other income from gain on sale of vehicle. Select one: Ca. Dr Gains Cr Trading Account b. Dr Trading Account Cr Gains Cc. Dr Gains Cr Profit or Loss Cd. Dr Profit or Loss Cr Gains

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