Accounting Balances Extraction Quiz
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Questions and Answers

What was the total cost of the Furniture and fittings at the end of the financial year?

  • N$ 31,000
  • N$ 29,000
  • N$ 20,000
  • N$ 21,000 (correct)

    • What was the profit and loss account balance at the start of the financial year?

  • N$ 124,000
  • N$ 8,000 (correct)
  • N$ 70,000
  • N$ 10,000

    • What was the total amount of purchases made during the financial year?

  • N$ 10,000
  • N$ 270,000
  • N$ 124,000 (correct)
  • N$ 118,000

    • What was the total amount of sales during the financial year?

    <p>N$ 270,000</p> Signup and view all the answers

    What was the total value of vehicles after considering depreciation at the end of the financial year?

    <p>N$ 30,000</p> Signup and view all the answers

    How much provision needed to be made for bad debts based on the information provided?

    <p>N$ 23,600</p> Signup and view all the answers

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