Bhola On 28 February 2023, the end of the financial year, the Fixed deposit account had a balance of R100 000 and theinterest on fixed deposit account reflected a total of R5 000. The interest rate is 8% p.a. and interest is notcapitalised. An increase of R20 000 in fixed deposit account was made on 01 December 2022 and this has beenrecorded. How much was reflected as interest on fixed deposit in the statement of comprehensive income for theyear ended 28 February 2023?A. R5 200B. R8 000O C. R11 800D. R6 800

Comprehensive income items are often profits and losses recorded in the financial statements but not…

On 28 February 2023, the end of the financia interest on fixed deposit account reflected a capitalised. An increase of R20 000 in fixed d recorded. How much was reflected as interes year ended 28 February 2023?

On 28 February 2023, the end of the financia interest on fixed deposit account reflected a capitalised. An increase of R20 000 in fixed d recorded. How much was reflected as interes year ended 28 February 2023?

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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Question

Bhola

On 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 account 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?
A. R5 200
B. R8 000
O C. R11 800
D. R6 800

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