n 28 February 2023, the end of the financial year, the Fixed deposit account had a balance of R100 000 and the interest on fixed deposit ccount reflected a total of R5 000. The interest rate is 8% p.a. and interest is not capitalised. An increase of R20 000 in fixed deposit account was made on 01 December 2022 and this has been recorded. How much was reflected as interest on fixed deposit in the statement of comprehensive income for the year ended 28 February 2023? O A. R6 800 OB. R11 800 O C. R5 200 OD. R8 000

n 28 February 2023, the end of the financial year, the Fixed deposit account had a balance of R100 000 and the interest on fixed deposit ccount reflected a total of R5 000. The interest rate is 8% p.a. and interest is not capitalised. An increase of R20 000 in fixed deposit account was made on 01 December 2022 and this has been recorded. How much was reflected as interest on fixed deposit in the statement of comprehensive income for the year ended 28 February 2023? O A. R6 800 OB. R11 800 O C. R5 200 OD. R8 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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