Accounting Multiple Choice Question – 5 March 2020

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Given the following information below, calculate the amount owed to a firm by its debtors as at 31 December.

  • Debtors at 1 January £11,500
  • Credit sales for the period 1 January – 31 December £48,000
  • Money received from debtors between 1 January and 31 December £45,000

Select ONE answer:

  1. £8,500
  2. £14,500
  3. £18,500
  4. £83,500

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct
  3. Not Correct
  4. Not correct

Answer 2:

Debtors
Dr Balance b/d £11,500
Dr Sales (Credit) £48,000
Dr Totals £59,500
Cr Bank £45,000
Cr Bad Debts £0
Cr Balance c/d £14,500
Cr Totals £59,500

 

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