At the balance sheet date the balance on the Accumu lated Provision for Depreciation Account is
A. Transferred to the Depreciation account
B. Transferred to Profit and Loss
C. Simply deducted from the asset in the Balance Sheet
D. Transferred to the Asset account
查看答案
If an accumulated provision for depreciation account is in use then the entries for the year's depreciation would be
A. Credit Provision for Depreciation Account, debit Profit and Loss Account
B. Debit Asset Account, credit Profit and Loss Account
Credit Asset Account, debit Provision for Depreciation Account
D. Credit Profit and Loss Account, debit Provision for Depreciation Account
When the financial statements are prepared, the Bad Debts Account is closed by a transfer to the
A. Balance Sheet
B. Profit and Loss Account
C. Trading Account
D. Al lowance for Doubtful Debts Account
An Allowance for Doubtful Debts is created
A. When debtors become bankrupt
B. When debtors cease to be in business
C. To provide for possible bad debts
D. To write-off bad debts
Given the following, what is the amount of Capital? Assets: Premises £20,000; Inventory £8,500; Cash £100. Liabi lities: Accounts payable £3,000; Loan from A. Adams £4,000
A. £21,100
B. £21,600
C. £32,400
D. £21,400
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