Revision 5
Attempt the ten questions below and then click 'Submit'.

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Q1. A cheque for €600 had been received on 31/12 in respect of a debt of €1,000 previously written off as bad. The debtor has agreed to pay the remainder within 1 month. How will our figure for Debtors change? *
10 points
Q2. Rates prepaid on January 1st were €400. On May 1st we paid rates for 6 months of €1200. How much will appear in the Profit & Loss Account for rates from January 1st to June 30th? *
10 points
Q3. Closing Stock (€4,500) includes stock of heating oil (€500). What figure should appear as Closing Stock in the Trading Account? *
10 points
Q4. Contribution is... *
10 points
Q5. What figure is added to Opening Stock in the Trading Account of a Production Budget question? *
10 points
Q6. Vehicles at January 1st cost €40,000.  A new vehicle costing €7,200 was purchased on March 1st.  Depreciation is 5% per annum, from date of purchase to date of sale.  What's the total depreciation charge on vehicles this year? *
10 points
Q7. Rent of €30,000 paid on April 1st is for 15 months. What figure will appear in the December column of the Tabular Statement? *
10 points
Q8. Where will 'Patent Royalties' appear in the Published Accounts? *
10 points
Q9. Which of these items would NOT appear in a Receipts and Payments Account for a Club? *
10 points
Q10. A.Jones, a newsagent, purchased some Furniture (costing €11,000) and this was recorded as €450 on the incorrect side of the Furniture account.  How should we fix this? *
10 points
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