Ncea Accounting Level 1 [income Statement + Balance Day Adjustments]

  • NCEA
Reviewed by Editorial Team
The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.
Learn about Our Editorial Process
| By BroSir
B
BroSir
Community Contributor
Quizzes Created: 8 | Total Attempts: 1,773
| Attempts: 171 | Questions: 8 | Updated: Mar 22, 2025
Please wait...
Question 1 / 8
0 %
0/100
Score 0/100
1. Depreciation on the $50,000 vehicle is based on it lasting 5 years [estimated useful life] and a salvage/residual value of $10,000.

Explanation

Excellence.

Submit
Please wait...
About This Quiz
Financial Statements Quizzes & Trivia

Kia Ora Whānau
Another awesome quiz from Brosir. Com - making learning awesome, easy and FREE!Income Statement + Balance Day AdjustmentsOnce you have stared at the photo of Jacob long enough, feel free to continue the quiz :)

2.
We’ll put your name on your report, certificate, and leaderboard.
2. Inventory of $15 000 is on hand as at 31 March 2010.

Explanation

not-available-via-ai

Submit
3. The purpose of an Income Statement is to show:

Explanation

Achieved question.

Submit
4. Balance Day Adjustment Invoices sent out to customers of  $3,220 including GST means:

Explanation

This is an excellence question.

Submit
5. Balance Day Adjustment Interest of $145 on the Loan due 2020 at 10% p.a. is still owing.

Explanation

Merit.

Submit
6. Balance Day Adjustment Rent of $250 has been received in advance.

Explanation

Merit

Submit
7. Balance Day Adjustment Insurance of $600 has been paid in advance.

Explanation

Merit question.

Submit
8. Balance Day Adjustment Invoices on hand for purchases of  $2,185 including GST means:

Explanation

This is an excellence question.

Submit
View My Results
Cancel
  • All
    All (8)
  • Unanswered
    Unanswered ()
  • Answered
    Answered ()
Depreciation on the $50,000 vehicle is based on it lasting 5 years...
Inventory of $15 000 is on hand as at 31 March 2010.
The purpose of an Income Statement is to show:
Balance Day Adjustment...
Balance Day Adjustment...
Balance Day Adjustment Rent of $250 has been received in advance.
Balance Day Adjustment Insurance of $600 has been paid in advance.
Balance Day Adjustment...
Alert!

Back to Top Back to top
Advertisement