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Accounting Adjustments Expert

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Accounting Adjustments Expert

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About this activity

Test your mid-level accounting adjustments.

Created by

Sabih Kamal
Sabih Kamal
Pakistan

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Accounting Adjustments Expert
 

Accounting Adjustments ExpertOnline version

Test your mid-level accounting adjustments.

by Sabih Kamal
1

Accruals: Trial Balance heating expense is 5,000. Rs. 400 is still owed at year-end. What is the total expense?

Written answer

2

Prepayments: Rent paid is 14,000, but 700 was paid in advance for next year. What is the adjusted Rent expense?

Written answer

3

Bad Debts: A debt of 1,200 is written off. The allowance for doubtful debts is then increased by 500. Total expense?

Written answer

4

Depreciation: Non-current assets cost 146,000. Depreciation is 10% on cost. Calculate the charge for the year.

Written answer

5

Inventory: Opening inventory was 15,000. Closing inventory is 16,500. Purchases are 304,400. Calculate Cost of Sales.

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6

Net Assets: Total Assets are 168,100 and Total Liabilities are 42,400. Calculate the Total Equity (Capital).

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7

Tax Charge: Current tax estimate is 114,000. Last year's tax was over-estimated by 6,000. What is the final Tax Charge?

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8

Tax Liability: Opening Tax Payable was 77,000. Current charge is 108,000. Total paid was 123,000. Closing liability?

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9

If a debt written off is 1,200 and the allowance increases by 500, what is the total expense (alternative wording)?

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10

Adjusted rent expense when 14,000 paid but 700 prepaid for next year equals?

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