问答题
问答题
问答题
问答题
问答题
问答题
问答题
问答题
问答题
单选题-BackgroundSarawastoobusytoattendtheinventorycountheldon30September20X8.Itwasfinnallyfinishedon30ctober20X8andvaluedtheclosinginventoryatitscostof$8,900.Between30September20X8and30ctober20W8Saraboughtmaterialandthreadcosting$142andsolddressescosting$254for$570.Furthermore,Saradiscoveredthataclassofinventoryitemsatacostof$2,000onlyhadanetrealisablevalueof$1,400.Sarahasnotpostedtheclosinginventoryfortheyear.Additionalinformationisalsoprovidedthroughoutthequestion.
单选题-BackgroundAliceCohasinvestedintheordinarysharesofanumberofothercompanies.Thedetailsoftheholdingsinthecompaniesasat31December20X5areasfollows:Additionalinformation:(1)BeeCohasaboardofdirectorsthatcomprisesixdirectors;AliceCocanappointoneofthem.(2)CindyCohasaboardofdirectorsthatcomprisesfourdirectors;threeofthemarefromAliceCo.Inaddition,eachshareinCindycanmakeonevote.
单选题-BackgroundThefollowingsaresummarisedstatementsofprofitorlossoftwocompanies,PhaleCoandSummerCo,fortheyearended31December20X8.PhaleCohasowned80%oftheordinarysharesofSummerCoformanyyears.
问答题 Golden has a profit of $30,000 for the year ended 31 December 20X7 without recording the following items.
Irrecoverable debts of $500.
Opening allowance for receivables at l January 20X7 was $2,400.
The closing allowance needs to be adjusted to $5,300.
A $400 invoice previously recognised as doubtful debts turn out to be irrecoverable.
What is the net profit for the year ended 31 December 20X7 after adjusting for these items? ______
问答题 Sunny Co had 2,000 units of inventory inwards to their warehouse, the cost details are listed:
Purchase price: $6 per unit
Non-refundable import tax: 300
Carriage inwards: $600
Carriage outwards: $750
Trade discount: 5% of purchase price
Cost to sell: $500
What is the cost of inventory according to IAS 2 Inventories? ______
问答题 William's trial balance at 30 September 20X5 included the following balances. Trade receivables $75,943, Receivables allowance $4,751.
How should these balances be reported in William's statement of financial position as at 30 September 20X5? ______
问答题 In respect of directors' responsibilities, which of the following statements is true or false? ______
(1)Internal control system should be designed by external experts.
(2)It is the directors' responsibility to prepare the financial statements each year.
问答题 The following undetected errors have been made when preparing the trial balance for XYZ.
(1)Purchases of materials for $2,125 have been debited to both the purchases account and the trade payables account.
(2)A loan of $4,000 was correctly credited to the loan account but no other entry was made.
What entry for suspense account should be made to balance the trial balance? ______
问答题 Jack prepares his account at the year end at 31 December 20X6. On 1 January 20X6, the amount prepaid for rent was $360. During the year, he paid the rent for $3,600 in cash, excluding an accrual of $420.
What's amount should be in the statement of profit or loss for the year end 31 December 20X6 for rent expense? ______
问答题 On 31 December 20X8, a fire in a company's offices destroyed various accounting records. The accounting staff were able to piece together the following information from the undamaged records.
(1)Inventories held at 1 January 20X8 were $56,000.
(2)Purchase made from l January 20X8 until the date of the fire were $79,400.
(3)Inventories held at the date of the fire were $34,600.
(4)All sales were made at a gross profit margin of 30%.
What was the sales revenue for the period from l January 20X8 until 31 December 20X8?
$______
问答题 The balance on the receivable account at 1 October is $4,000. The total of the sales day book for October is $1,600. The cash receipts book contains total receipts from customers of $3,500 included in the total receipts was $1,000 received from cash sales. It also contains a contra to the payable ledger of $400. The remainder of the receipts were from credit customers.
What should be the balance on the receivable account at 31 October? ______