Qualification > Commerce

Accounting help!!!!!!!!!!!

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moon:
plz Ari can u help me in these questions?????

Q1. Which error affects the blancing of a trial balance?

A) a purchase invoice, $2000 completely omitted from the books.

B) a sale on credit, $500, entered in the sales journal as $550

C) purchase of a machine, $5000, entered in purchases account

D) the purchases journal undercast by $100.


Q2. Farad's financial year ends on 31 December.

     on 31 December 2007 his account included:

                                                                      $
     equipment at cost                                     18 000
     provision for depreciation of equipment           7 000

on 1 January 2008 Farad purchased equipment for $ 12 000.

Equipment is depreciated at 25% per annum using the straight line method.

What would be the provision for depreciation of equipment on 31 December 2008?

A) $5750                        B) $7500                   C) $ 12 750                   D) $14 500


Q3) A business values its stock at $35 600
      This includes $2500 for goods which can be only sold for $800.
      At which value should stock be recorded in the final accounts?

A) $33 100                      B) $33 900                 C) $34 800                   D) $ 35 600 

thanx a lot I appreciate ur help.    :) :) :)
   
     
 

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