On 1 August 2011 a business invested 400,000 in a fixed deposit account earning interest at 6%

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On 1 August 2011 a business invested £400,000 in a fixed deposit account earning interest at 6% per annum. Identify the amount of interest income to be reported in the Statement of income of the business for the year ended 31 March 2012.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 28, 2023 08:22 AM

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On 1 August 2011 a business invested 400,000 in a fixed deposit account earning interest at 6%

Question:

a £18,000 b £16,000 c £24,000 d £12,000

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Financial Accounting An Introduction

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