Accounting Multiple Choice Question – 7 September 2024

Alex plc is finalising certain figures that will appear in its financial statements as at 30 September 2023.

In its initial trial balance for the year-end, Alex plc has a figure for tax payable as at 1 October 2022 of £114,520.

The total tax charge in the income statement for the year to 30 September 2023 is £145,670, and tax paid in the year was £123,090.

The tax payable balance that will appear in Alex plc’s statement of financial position as at 30 September 2023 is?

Select ONE answer:

1. £91,940
2. £114,520
3. £137,100
4. £382,000

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 3

1. Not correct
2. Not correct
3. Correct == > Dr Bank Payments £123,090 + Bal c/d £137,100 = Total £260,190 – Cr Balance B/D £114,520 == > I/S £145,670
4. Not correct

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