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