Gce Model Questions Vol1 2019 Financial Accounting Question 30
Practice objective / multiple choice question 30 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
A trial balance before adjustments totals \(£250,000\) on both the debit and credit sides. The following adjusting entries are required: (i) accrued salaries expense of \(£3,000\), (ii) prepaid insurance of \(£2,500\) for a 12‑month policy with 3 months already expired, (iii) depreciation on equipment of \(£4,800\) per year (half‑year has passed), (iv) accrued interest on a loan of \(£1,200\). After posting all adjusting entries, what is the new total of the debit side?
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 30. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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