The rent, rates (local property tax) and insurance account in the books of Mahler for the year ended 30 June 2016 was as follows: USD Opening balances at 1 July 2015 Rent accrued 200 Rates prepaid 150 Insurance prepaid 180 Payments made during the year ended 30 June 2016 were as follows: USD 10 August 2015 Rent, three months to 31 July 2015 300 26 October 2015 Insurance, one year to 31 October 2016 600 2 November 2015 Rates, six months to 31 March 2016 350 12 December 2015 Rent, four months to 30 November 2015 400 17 April 2016 Rent, four months to 31 March 2016 400 9 May 2016 Rates, six months to 30 September 2016 350 Which of the following is a correct treatment for Mahler’s insurance?
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A Prepaid/(accrued) at 30 June 2016: USD(200); Transfer to profit or loss account for year to 30 June 2016: USD400 B Prepaid/(accrued) at 30 June 2016: USD(300); Transfer to profit or loss account for year to 30 June 2016: USD1,200 C Prepaid/(accrued) at 30 June 2016: USD200; Transfer to profit or l...
5 .The rent, rates (local property tax) and insurance account in the books of Mahler for the year ended 30 June 2016 was as follows: USD Opening balances at 1 July 2015 Rent accrued 200 Rates prepaid 150 Insurance prepaid 180 Payments made during the year ended 30 June 2016 were as follows: USD 10 August 2015 Rent, three months to 31 July 2015 300 26 October 2015 Insurance, one year to 31 October 2016 600 2 November 2015 Rates, six months to 31 March 2016 350 12 December 2015 Rent, four months to 30 November 2015 400 17 April 2016 Rent, four months to 31 March 2016 400 9 May 2016 Rates, six months to 30 September 2016 350 Which of the following is a correct treatment for Mahler’s rates?
A Prepaid/(accrued) at 30 June 2016: USD(175); Transfer to profit or loss account for year to 30 June 2016: USD850 B Prepaid/(accrued) at 30 June 2016: USD(150); Transfer to profit or loss account for year to 30 June 2016: USD700 C Prepaid/(accrued) at 30 June 2016: USD150; Transfer to profit or los...
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A USD2,400 with prepayment of USD600 B USD2,400 with accrual of USD1,200 C USD3,000 with accrual of USD600 D USD3,000 with prepayment of USD600
8 .You are given the following extract from an electricity account for the year ended 30 June 2015: Electricity a/c USD USD Balance b/d (standing charge) 74 Balance b/d (metred usage) 375 Bank 394 Bank 427 Bank 507 Bank 670 The last bill received and paid was for USD670, comprising a standing charge of USD180 for the three months to 31 August 2015 and metered charges for the three months to 31 May 2015.The charge for usage in June is expected to be USD307, whilst the standing charge is to be increased to USD240 per quarter on all successive bills.What is the charge for electricity in the profit or loss account for the year ended 30 June 2015?
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A USD36,450 B USD36,750 C USD37,050 D USD37,350
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A Deferred income: USD1,200; Accrued income: USD600 B Deferred income: USD600; Accrued income: USD1,200 C Deferred income: USD400; Accrued income: USD400 D Deferred income: USD200; Accrued income: USD800
