Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

Once the company’s financial statements had been prepared, the trial balance at 31 December 2015 showed the balance below. Stationery: $8000$ debit What did this mean?

  • Aan amount due to the company’s stationery supplier for 2015
  • Ba prepayment made to the stationery supplier at 31 December 2015
  • Cinventory of stationery at 31 December 2014
  • Dthe annual stationery charge for 2015

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