ou have been provided with an extract from the pre-adjusted trial balance of JJ Stores. 31 December 2015 Details Debit Credit Long-term loan 100 000 Interest expense 11 000 Insurance 15 000 The above loan is with Accrual Bank and bears interest at 12% which accrues on the first day of each month. • The R15 000 relating to insurance above includes an amount of R8 000 which relates to insurance on the new truck. This amount related to the period from 1 July 2015 to 30 June 2016 The total insurance expense for the 2015 year of assessment should be:.

ou have been provided with an extract from the pre-adjusted trial balance of JJ Stores. 31 December 2015 Details Debit Credit Long-term loan 100 000 Interest expense 11 000 Insurance 15 000 The above loan is with Accrual Bank and bears interest at 12% which accrues on the first day of each month. • The R15 000 relating to insurance above includes an amount of R8 000 which relates to insurance on the new truck. This amount related to the period from 1 July 2015 to 30 June 2016 The total insurance expense for the 2015 year of assessment should be:.

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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