Accounting Multiple Choice Question – 5 March 2020

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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