C4) Able Ltd had accounts payable of 2,400 at 1 May. In May, Able Ltd had cash purchases of 1,600, credit purchases of 1,700, and on 31 May it paid 2,600 to its suppliers by bank transfer. At the end of May, the balance of accounts payable was: (a) 100 (b) 1,400 (C) 1,500 (d) 3,100 5) Drain Block Ltd pays 30,000 for 2 vans and depreciates them at 30% reducing balance. What is the accumulated depreciation on the vans at the end of the fourth year? (a) 10,290 (b) 15,300 (c) 21,000 (d) 22.797 (3) Which of the following best describes a trial balance? (a) It lists all the journal entries of an entity (b) It lists all the income, expenditure, assets, liabilities, and equity of an entity (c) It lists all the transactions of an entity (d) It lists all the assets, liabilities, profits, losses, and equity of an entity (7) Which of the following are NEITHER fixed costs NOR variable costs for an Internet cafe? (a) A van, Internet line rental, computers (b) A van, computers (c) Internet line rental, coffee (d) Internet line rental, computers, coffee