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6. Where does opening inventory go

  • Equity
  • Not included
  • Under Current assets
  • Non-current liability

7. Where would 'Van expenses' go

  • Not included
  • Non-c assets > Motor vehicles > Second 'Acc Depn' column
  • Non-c Liabilities > Motor vehicles > Second 'Acc Depn' column

8. NBV goes where

  • Last column at the top
  • Dont include
  • Before cost

9. Electricity bill not yet paid

  • Add to Electricity
  • Don't include
  • Add to accruals
  • Add to Current Liabilities

10. Inventory

  • Non-current liability
  • Current liability
  • Equity
  • Current asset
  • Non-current asset

11. Accumulated depreciation graph titling

  • (Vertical) Machine cost; [less] Acc. Depreciation; Carrying value
  • (Horizontal) Machine cost; [less] Acc. Depreciation; Carrying value

12. Prepayment of van insurance

  • Current Liabilities > Prepayment
  • Current Assets > Insurance
  • Current Assets > Prepayments
  • Current Assets > Vehicle insurance

13. Trade recievables

  • Non-current liability
  • Current liability
  • Current asset
  • Non-current asset

14. Bill unpaid totals £750 for three months, Include as:

  • 750*1/3 (Find for only the month as at)
  • 750
  • 750/2 (Half the 3 monthly payment)

15. NBV

  • Net book value - 3rd Column
  • Net book value - 1st Column
  • Net book value - 2nd Column
  • Net book value - Last Column

16. What is the first column along the top

  • £CR
  • Cost
  • £DR

17. Acc Depn

  • Accumulated depreciation - 1st Column
  • Accumulated depreciation - 2nd Column
  • Actual Depreciation - 1st Column

18. Less: Drawings

  • Equity
  • Current Asset
  • Current liabilities
  • Non-current liability

19. Motor vehicles

  • Non-current asset
  • Current liability
  • Current asset
  • Non-current liability

20. Prepayments (1800-400+600)

  • Non-current asset
  • Non-current liability
  • Current asset
  • Current liability