Depreciation, bad debts, control accounts

Question 1 of 10

Accumulated depreciation is shown in the statement of financial position as

Question 2 of 10

Opening receivables GH¢10,000; credit sales GH¢50,000; cash received GH¢45,000; bad debts GH¢1,000. Closing receivables are

Question 3 of 10

The sales ledger control account contains totals of

Question 4 of 10

A machine costing GH¢10,000 is depreciated at 20% per year on the reducing balance. What is its value after 2 years?

Question 5 of 10

In the purchases ledger control account, discounts received appear on the

Question 6 of 10

A debt that cannot be recovered is written off by debiting

Question 7 of 10

Receivables are GH¢40,000 and a provision for doubtful debts of 5% is required. The existing provision is GH¢1,500. The charge to the income statement is

Question 8 of 10

A debt that cannot be collected and is written off is

Question 9 of 10

A machine costing GH¢18,000 has a 6-year life and nil residual value. Using sum-of-the-years'-digits, year 1 depreciation is

Question 10 of 10

Reducing balance at 20% on GH¢5,000. Depreciation in year 2 is