Final Accounts
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Q1. Closing stock of stationery appears in the... *
10 points
Q2. We have 5% Investments (since June 1st) of €325,000. What figure will appear in our Income section for Investment Income. *
10 points
Q3. Our current provision for Bad Debts is €650. We now change this to €700. What figure will appear in our expenses for Bad Debt Provision? *
10 points
Q4. The Profit & Loss Balance is on the credit side of the trial balance. In the appropriation account, will we... *
10 points
Q5. Patents are... *
10 points
Q6. Vehicles cost €28,000 and have €4,000 of accumulated depreciation. If the rate of depreciation is 2% per annum, what is the ‘straight-line’ rate of depreciation for the expenses this year? *
10 points
Q7. Using the figures from question 6, what is the ‘reducing balance’ rate of depreciation for the expenses this year? *
10 points
Q8. Buildings are a... *
10 points
Q9. The Bank figure is on the debit side of the trial balance. It will appear in our answer as... *
10 points
Q10. Authorised Share Capital is... *
10 points
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