Accounting 0452 · IGCSE · Capital and revenue expenditure and receipts

Capital and revenue expenditure and receipts — practice question

A trader maintains the following ledger account (heat and light account). What does the balance on 1 January, year 2 indicate?

  • Aheat and light outstanding
  • Bheat and light refunded
  • Coverpayment of heat and light
  • Dprepayment of heat and light

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