Year end adjustments _Income Statement

Quiz
•
Education
•
12th Grade
•
Hard
Tutor King
FREE Resource
14 questions
Show all answers
1.
OPEN ENDED QUESTION
3 mins • 1 pt
Record the impact that trading stock will have on the financial statements ?
show all workings ,upload a picture of your answer
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2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Trading stock will be recorded as ?
trading stock deficit
under operating expenses
trading stock surplus
under other income
3.
OPEN ENDED QUESTION
3 mins • 3 pts
Record the rent income in the statement of comprehensive income?
show all working out and upload a picture of your answer.
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4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rent Income is ?
Received in advance for 3 months
received in advance for 2 months
accrued/outstanding for 2 months
accrued or outstanding for 3 months
5.
OPEN ENDED QUESTION
3 mins • 1 pt
Record the provision for bad debts in the Statement of Comprehensive income ?
show all workings and upload a picture of your answer.
Evaluate responses using AI:
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6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Provision for bad debts adjustment is an ?
INCOME
EXPENSE
7.
OPEN ENDED QUESTION
3 mins • 2 pts
Record the insurance in the Income Statement ?
show all workings and upload a picture
Evaluate responses using AI:
OFF
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