Accounting Questions and Answers

Use the following information to answer the given question

RECEIPTS AND PAYMENTS ACCOUNT:

\(\begin{array}{c|c} Dr & & & Cr \\ \hline & D & & D \\ \text{Balance b/f} & 1,000 & Salaries & 2,000 \\ \text{Subscriptions} & 15,000 & \text{Rent} & 1,000 \\ & & \text{Rates} & 1,500\\ & & \text{Expenses} & 500 \\ & & \text{Balance c/f} & 11,000\\ & \overline{16,000} & & \overline{16,000} \\ \text{Balance b/f} & \overline{11,000} & & \end{array}\)

\(\begin{array}{c|c} & \text{1st January,2004} & \text{31st December, 2004} \\ & D & D \\ \hline \text{Fixed Assets} & 50,000 & 50,000\\ \text{Rent(accrued)} & 200 & 250 \\ \text{Rates(prepaid)} & 300 & 400\\ \text{Subscriptions in arrears} & 1,500 & 1,000\\ \text{Subscriptions in advance} & 1,300 & 800 \end{array}\)

Accumulated fund as at 1st January 2004 is

Where a firm has not kept proper books of account, an increase in closing capital over opening capital represents

Which of the following is not credited to debtors control account?

Which of the following is not contained in sales ledger control account?

Which of the following is used to derive missing figures in a system of incomplete records?