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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 93 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 93
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

Refer to the Exhibit.

A company is preparing its accounts to 30 April 2006. The latest telephone bill received by the company was dated 31 March and included call charges for the quarter 1 December to 28 February. The amount of the bill for call charges (excluding VAT) was $960. Most of the company's telephone bills are for similar amounts.

Which of the following journal entries should be made to the company's accounts at 30 April 2006?

The journal entries which should be made to the company's accounts at 30 April 2006 is

Show Suggested Answer Hide Answer
Suggested Answer: B

by Janae at Jul 18, 2024, 08:09 PM

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Jacqueline
2 months ago
Let's see, if the bill covers December to February, then I need to account for the April portion. *scratches head* Okay, I think I got this.
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Rikki
1 days ago
D) Debit Prepayments $320, Credit Telephone Expense $320
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Melynda
2 days ago
C) Debit Telephone Expense $320, Credit Prepayments $320
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Xuan
4 days ago
B) Debit Accruals $320, Credit Telephone Expense $320
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Lashon
7 days ago
D) Debit Accruals $960, Credit Telephone Expense $960
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Nada
16 days ago
C) Debit Telephone Expense $960, Credit Accruals $960
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Melinda
26 days ago
B) Debit Accruals $320, Credit Telephone Expense $320
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Emiko
1 months ago
A) Debit Telephone Expense $320, Credit Accruals $320
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Adell
1 months ago
A) Debit Telephone Expense $320, Credit Accruals $320
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Hildegarde
2 months ago
Hold on, is this a trick question? I sure hope I don't end up 'accruing' a headache from this one.
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Alida
1 months ago
User 2
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Elvis
2 months ago
User 1
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Frank
2 months ago
Why do you think it's C?
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Chantay
2 months ago
Ah, the good old accrual concept strikes again. I better double-check my understanding of that.
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Paulina
2 months ago
I believe the correct answer is C.
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Stephane
2 months ago
Hmm, this question is tricky. I need to really think about the accounting principles involved here.
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Nakita
16 days ago
I'm not sure, but I think option D might be the correct journal entry.
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Goldie
1 months ago
I'm leaning towards option C as the correct journal entry.
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Elena
2 months ago
I believe option B is the right choice for the journal entry.
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Stephaine
2 months ago
I think the correct journal entry should be option A.
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Frank
3 months ago
I think the answer is A.
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