Henrys year end is 30th June 20x9. The last utilities invoice paid was for 750 and related to the 3 months to 30 April 20X9. Henry estimates that his usage has remained similar since. What is the accrual required as at 30 June 20x9?

A. 500

b. 250

c. 750

D. 1000

A business earns income by renting out properties. During the year ended 31 December 2010 it received 38,400 as rent. This amount includes 5,400 received as advance for 2011. During 2011 it received 34.500 as rent and a third of this amount relates to 20x6. The financial statements for the year ended 31 December 2010 should report:

a. Rental income: 46,500; Rent in arrears: 11,500

b. Rental income: 49,900; Rent in arrears: 11,500

c. Rental income: 44,500; Rent in arrears: 11,500

d. Rental income: 38,400; Rent in arrears: None

Which of the following statements correctly describes the effect of the following transaction on the accounts of your company?

You purchase a motor vehicle for cash. It costs MVR13,500

a. Cash decreases by MVR13,500and Non-current assets decrease by MVR13,500

b. Cash decreases by MVR13,500 and Non-current assets increase by MVR13,500

c. Cash decreases by MVR13,500 and Current assets increase by MVR13,500

d. Purchases increase by MVR13,500 and Non-current assets increase by MVR13,500

Danutas Bank T-account closes with a C/D balance of 10,000 entered on the credit side. Does this mean she has a negative or positive bank balance

a. Negative 0

b. Positive 10,000

c. There is not enough information to know

d. Negative 10,000

A company has total Sales revenue of MVR500,000 for the year to the end of December. Closing inventories were MVR50,000, Purchases for the year were MVR330,000 and Gross profit was MVR200,000. What was the Opening inventory value?

a. MVR279,500

b. MVR20,000

c. MVR80,000

d. MVR280,000

A company has Non-current assets of MVR150,000, Current assets of MVR55,000, Non-current liabilities of MVR100,000 and Equity of MVR25,000. What is the value of their Current liabilities?

A. MVR105,000

B. MVR100,000

C. MVR80,000

D. MVR30,000

On the 31st December 2019 you pay 12,000 for a rates invoice relating to 01/01/20 30/06/20. As at the 30th April 2020,the prepayment in relation to this will be?

A. 6,000

b. 8,000

c. 4,000

D. 12,000