Accounting Questions 1:

Q.1 Calculate the total to be sent to the P&L for accounts to 31 March 2019. Telephone Expenses Bank: 750 Bill for Jan-March 19 (Paid in April 2019): 100 a) 650 b) 850 c) 750 Q.2 Calculate the total to be sent to the P&L for accounts to 31 March 2019. Commission Received Bank: 2500 Commission Statement for Jan-March 19 (Received in April 2019): 800 a) 1700 b) 2500 c) 3300 Q.3 What effect does a prepaid expense have on this years accounts (select two answers) a) It increases the expense account balance sent to the P&L and it increases current liabilities b) It reduces the expense account balance sent to the P&L and it increases current assets Q.4 Calculate the total to be sent to the P&L for Accounts to 31 March 2019. Equipment Hire Expenses Bank: 1200 which includes payment of 300 for the quarter ending 31 May 2019 a) 1200 b) 1400 c) 1000 Q.5 Calculate the total to be sent to the P&L for accounts to 31 March 2019. Electricity Expenses Bank: 950 Bill for Jan-March 19 (Paid in April 2019): 250 a) 1200 b) 950 c) 1050