Accruals and Prepayments · CSEC Principles of Accounts

14 past-paper questions on Accruals and Prepayments, part of Section 6: Accounting Adjustments, from every CSEC Principles of Accounts paper on Quelpr.

1. 2(c)4 marks· CSEC Principles of Accounts · January 2009 · Paper 2Prepare the Rates Account in the books of Rennie Joseph for the six-month period ending May 31, 2008, showing the amount to be transferred to the Profit and Loss Account.
2. 4(b)(i)5 marks· CSEC Principles of Accounts · January 2010 · Paper 2Prepare the Rent Expense Account, clearly showing the amount to be transferred to the Income Statement.
3. 4(b)(ii)5 marks· CSEC Principles of Accounts · January 2010 · Paper 2Prepare the Commission Revenue Account, clearly showing the amount to be transferred to the Income Statement.
4. 4(c)2 marks· CSEC Principles of Accounts · January 2010 · Paper 2Show the Classified Balance Sheet Extract at December 31, 2009 for the Prepaid Rent and Accrued Commission Revenue.
5. 4(b)1 mark· CSEC Principles of Accounts · January 2014 · Paper 2State the heading in the balance sheet under which 'Prepaid Rental Revenue' would appear.
6. 4(b)6 marks· CSEC Principles of Accounts · January 2016 · Paper 2Prepare the Rent Expenses Account for the year ended 31 December 2015.
7. 4(c)(i)1 mark· CSEC Principles of Accounts · January 2016 · Paper 2State under which heading in the Balance Sheet of the previous year the $2 500 would have been recorded.
8. 4(c)(ii)3 marks· CSEC Principles of Accounts · January 2016 · Paper 2Prepare the Commission Revenue account for the year ending 31 December 2015.
9. 3(b)(i)5 marks· CSEC Principles of Accounts · January 2018 · Paper 2Using the T-account format, prepare the Rent Revenue account for Sweet Serve for the year ending December 31 2017.
10. 3(b)(ii)5 marks· CSEC Principles of Accounts · January 2018 · Paper 2Using the T-account format, prepare the Insurance Expense account for Sweet Serve for the year ending December 31 2017.
11. 2(b)(i)1 mark· CSEC Principles of Accounts · May/June 2012 · Paper 2State ONE reason why adjustments are made to financial statements.
12. 2(b)(ii)1 mark· CSEC Principles of Accounts · May/June 2012 · Paper 2Identify ONE accounting concept which guides adjustments to financial statements.
13. 2(b)(iii)2 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Explain how the concept identified in (b)(ii) guides adjustments made to financial statements.
14. 1(b)7 marks· CSEC Principles of Accounts · May/June 2017 · Paper 2Prepare the General Journal entries showing how these events affect the Income Statement at the end of the accounting year. (Narratives are not required.)