IGCSE/GCSE/O & A Level/IB/University Student Forum
Qualification => Subject Doubts => IGCSE/ GCSE => Commerce => Topic started by: moon on October 18, 2010, 09:18:13 pm
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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
thanx in advance.
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I will Pm this to crooked.
he will answer You by tomorrow evening hopefully
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thanx a lot :)
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The answer to yer first query is D.
Fer the second one, it's B.
Want me to show yuh the workings?
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yes plz :)