and O Level Accounting Exam-style questions 1 Zaid's financial year ends on 31 October. On 1 November 20-6 he owed advertising.co of 540 During the year ended 31 October 20-7 he paid advertising costs of $530. This How much did Zaid charge to the income statement for the year ended 31 October 20 included $270 for an advertising campaign for six months to 29 February 20-8. for advertising costs? A $220 B $260 C $310 D $350 2 Aryani started a fashion boutique on 1 March 20-6. On that date she purchased static $395. During the year she took stationery, $15, for her own use. On 28 February 20- stationery was valued at $174. Which amount was charged to the income statemer the year ended 28 February 20-7 for stationery? A $206 B $221 C $236 D $380 3 Nasir's financial year ends of 31 December. On 1 April 20-9 she paid $1800 for c insurance on new premises. What entry would be made for insurance in the statement of financial posito 31 December 20-9? A $450 asset B $450 liability C $1350 asset D 4 William is a trader. His financial year ends on 31 December. He rents busin The monthly rent of $1350, payable in advance on the first day of each m increased to $1380 from 1 July 20-1. William paid six months' rent in adv debit on the following dates in 20-1:1 January, 1 July and 31 December a i Prepare the rent payable account in William's ledger for the year 31 December 20-1.