13. Which of the following types of account would normally have a debit balance on a trial balance? (1 Point) Non Current Asset Payables O Bank Loan O Capital 14.CFC Ltd, is a retailer of protective clothing. They sell some ear defenders for $15,000 on credit terms. What is the correct double entry? (1 Point) Dr Receivables $15.000. Or Sales $15,000 O Dr Cash $15.000, Gr Sales 515.000 O Dr Sales $15.000. Inventory $15.000 O Dr Receivables $15,000, Gr Inventory $15.000 15. Which one of the following could be a reason why the trial balance doesn't balance? (1 Point) O A purchase on credit was recorded using the double entry: Dr purchases $8.000. G payables $8.000 It was found that a sale on credit had been totally omitted from the accounting records Non current assets had been listed as a debit balance when preparing the trial balance The capital account had been listed as a debit balance when preparikthe trial balance 16. On 1 November Marlon Ltd pays $81,000 to a consultant to do some work for them over the next 3 months. What figures should appear in the financial statements for the year ended 31 December? (1 Point) Income statement 554.000. Statement of financial position $27.000 Prepayment O nome statement 554,000. Statement of financial position $27.000 Accrual Income statement $80,000. Statement of flesancial position 50 Income statement $27.000 Statement of financial position $54.000 Prepayment 17. Tom incurred expenses during year he did not pay for What is the correct double entry to use when accounting for an accrual? (1 Point) Dr Accrual statement of francial position pense income statement Or cash (statement of financial position consistatement of financial position) Demipense income statement accrual statement of financial position) O Dr Accruals (statement of financial portion Cash statement of financial position 18. Which ONE of the following costs should be accounted for as (1 Point) Pital expenditure (CAPEX) Repairs to the shaft of a building mort dutiespaid and induded in cost of a manufacturing machine A computer purchased for sale by a computer les business Monthly antrance 19. On 1 September Sebastien takes out a new a lease on a property and pays rent of $180,000 for the next 6 months. When preparing her accounts to 31 December, how should the rent be accounted for (1 Point Opere 50.000 Acer 590.000 tip 120.000, Accrual s000 Expense 590.00 Prepayment 500.000 Expo 5120000 Pret 560.000 20. What is the correct double entry for depreciation expense? (1 Point Depreciation was once to Noncorrente Depreciation experie O Depreciation expense G Acum depreciation D Acumulated depreciation Decline 21. Which of the following types of account would normally have a credit balance on a trial balance? ( Point Non Current Asset Pih be Payment 22. Which ONE of the following could explain why the trial balance does not balance? 11 Point Acredit was recorded the Death 15.000 $15.000 A purchase made on credit farm womitted from the contingecord Was opened and bad when reparing the ance The period ender and prepayments have not beeded in the accounting records
