问答题 A business began operations with $600 in the cash till. During the first year, all sales were cash sales and $30,000 was banked. Before making any banking, sundry expenses of $500 per mouth were paid from the cash till and the owner also withdrew $200 per month from cash till for living expense. The cash in the till at the year end was $200.
What is the cash sales figure for the year of operations?
$______
问答题 Maya had the following transactions related to sales this month.
(1)Credit sales and cash sales were $8,500 and $4,500 respectively.
(2)Cash received from credit customer of $5,500.
(3)Irrecoverable debt of $350 were written off.
What figure should be reported for receivable this month? ______
问答题 Sales (excluding sales tax) amounted to $2,500, and purchases (including sales tax) amounted to $1,800.
What is the balance on the sales tax account, assuming all items are subject to sales tax at 20%?
$______ Debit/Credit
问答题 Darwin purchased some raw materials from a supplier at a price of $3,000. He then converted these raw materials into finished goods through a process that costs $1,500, including $1,000 direct labour and attributable overhead of $500. After the production finished, he sold these finished goods and incurred cost of sell for $800.
What is the value of the finished goods that should be carried out in Darwin's financial statement?
$______
问答题ThefollowingfiguresaresummaryofGolden'scalculationsusedtopreparetheirstatementofcashflows:Whatfigureshouldcashflowsfromfinancingactivitiesbe?$______
问答题Jeremy,asoletrader,hadthefollowingassetsandliabilitiesatthebeginningandattheendofthisfinancialyear.Totaldrawingsduringtheyearwas$270.WhatwasJeremy'sprofitorlossfortheyear?______
问答题 Lucy had written off the balance owed to her by Wendy in the previous financial year. During the current year, Wendy paid the debt in full.
How would this payment be recorded by Lucy? ______
问答题 Which of the following items are books of prime entry? ______
(1)Sales day book.
(2)Cash book.
(3)Purchase ledger.
(4)The purchase returns day book.
问答题 Emma sold goods on Credit for $440 including sales tax of 10%.
How should this transaction be recorded in Emma's account? ______
问答题 In accordance with IAS 2 Inventories, what is the definition of net realisable value? ______
问答题XCosellsgoodswithaoneyearwarrantyandhadrecognisedaprovisionforwarrantyclaimsof$64,000at31December20X0.Duringtheyearended31December20X1,$25,000inclaimswerepaidtocustomers.On31December20X1,XCoestimatedthatthefollowingclaimswillbepaidinthefollowingyear.WhatamountshouldXCorecordinthestatementofprofitorlossfortheyearended31December20X1inrespectoftheprovision?______
问答题 Which of the following are characteristics of a limited liability company? ______
(1)It is a separate legal entity to its owners.
(2)Its shareholders are personally liable for debts of the company.
(3)It pays dividends out of profits to shareholders of the company.
问答题 Alan is not registered for sales tax. He recently received an invoice for goods of resale which cost $600 net of tax. Tax rate is 15%.
What is the correct entry to made in Alan's sales ledger in respect of this invoice? ______