On 29 February 2020, the end of the financial year, the Loan account had a balance of R90 000 and the interest on loan account reflected a total of R10 800. The interest rate is 12% p.a. and interest is not capitalised. Note: A repayment of R10 000 is made on 01 September of each year. The repayment on 01 September 2019 has been recorded. In view of the above, which one of the following statements is true? O A. The non-current liabilities will reflect an amount of R90 000. O B. The interest expense for the year is R11 400. O C. The amount that would be reflected as accrued expenses for interest on loan is R1 200. by R10 000

On 29 February 2020, the end of the financial year, the Loan account had a balance of R90 000 and the interest on loan account reflected a total of R10 800. The interest rate is 12% p.a. and interest is not capitalised. Note: A repayment of R10 000 is made on 01 September of each year. The repayment on 01 September 2019 has been recorded. In view of the above, which one of the following statements is true? O A. The non-current liabilities will reflect an amount of R90 000. O B. The interest expense for the year is R11 400. O C. The amount that would be reflected as accrued expenses for interest on loan is R1 200. by R10 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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Subject : Accounting what is the lowest subscription level of QuickBooks online that allows custom fields to be added to purchase orders?
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