Accurate arrangements of the accounting equation

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Reference no: EM132066378

1. At the beginning of December, Ali was owed £450 in rent. At the end of December, he was owed £600. He received £1,000 cash for rent during December. What will be the rent receivable figure in the income statement for December?

a. £1,600

b. £1,450

c. £2,000

d. £1,150

2. Which of the following are accurate arrangements of the accounting equation?

a. Change in net assets = capital injection + profit – drawings

b. Closing net assets = capital + profit – drawings

c. Change in net assets = capital injection – profit + drawings

d. Closing net assets = opening net assets + capital injection +profit – drawings

3. Which of the following could not appear in a company’s statement of cash flows?

a. Rights issue of shares

b. Proposed dividends

c. Purchase of non-current assets

d. Bonus issue of shares

Reference no: EM132066378

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