proceedscn163
cn163 net 时间:2021-03-02 阅读:()
FAandFullSpecimenExamAnswersQuestionCorrectAnswerMarks1Closingnetassets+drawings–capitalintroduced–openingnetassets=netprofit.
Re-arrangingtheequation:Openingnetassets–drawings+capitalintroduced+netprofit=closingnetassets22Theexactamountofexpenditureisreimbursedatintervalstomaintainafixedfloat232and3only24331760$TradePayablesat1July20X560,000Cashpaidtosuppliers(302,800)Discountsreceived(2,960)Contrabetweenpayablesandreceivablesledger(2,000)Purchases(BalancingFigure)331,760TradePayables30June20X6ORTradePayables$$CashPaid302,800Balance1July20X560,000DiscountsReceived2,960Contrabetweenpayablesandreceivablesledger2,000Purchases(BalancingFigure)331,760TradePayables30June20X684,000391,760391,76025Achequereceivedfromacustomerwascreditedtocashandcorrectlyrecognisedinreceivables–thecorrectentryshouldhavebeenadebittocashRentreceivedwasincludedinthetrialbalanceasadebitbalance–rentreceivedisacreditbalance26Currentassets:$22,240Currentliabilities:$nilCurrentassetsCurrentliabilities$$(1)EmployeeLoan12,000(1)LoanInterest(12,000x2%)240(2)Prepayment$9,000x8/126,000(3)Accruedincome$4,0004,00022,240Nil2797,100Currentassets$Netprofit83,600Addbackincorrectexpense18,000Lessdepreciation(18,000x25%)(4,500)Adjustednetprofit(97,100)28XenaCoissufferingfromaworseningliquiditypositionin20X9–Thecurrentratio(currentassets:currentliabilities)hasdecreased29Astatementofcashflowspreparedusingthedirectmethodproducesadifferentfiguretonetcashfromoperatingactivitiesfromthatproducediftheindirectmethodisused–FalseRightissuesofsharesdonotfeatureinastatementofcashflows–FalseAsurplusonrevaluationofanon-currentassetwillnotappearasaniteminastatementofcashflows–TrueAprofitonthesaleofanon-currentassetwillappearasanitemundercashflowsfrominvestingactivitiesinastatementofcashflows–FalseTheprofitonsalewillbedeductedfromtheprofitbeforetaxintheoperatingactivitiessectionofthestatementofcashflows.
Thecashproceedswillappearunderinvestingactivities.
210$475,900$Rentreceivedinadvance30April20X528,700Less:rentinarrears30April20X5(21,200)Addrecentreceivedinyear481,200Lessrentreceivedinadvance30April20X6(31,200)Addrentinarrears30April20X618,400Rentalincomeinstatementofprofitorloss475,900211Asoletrader'sfinancialstatementsareprivate;acompany'sfinancialstatementsaresenttoshareholdersandmaybepublicallyfiledAsoletraderisfullyandpersonallyliableforanylossesthatthebusinessmightmake212Theanalysisoffinancialstatementsusingratiosprovidesusefulinformationwhencomparedwithpreviousperformanceorindustryaverages213$36,750Dr214TheusefullivesofintangibleassetscapitalisedinthefinancialstatementsImpairmentlosseswrittenoffintangibleassetsduringtheperiodThesearerequiredbyIAS38IntangibleAssets2152onlyCapitaliseddevelopmentexpenditureisamortisedovertheperioditisexpectedtogenerateeconomicbenefits.
Researchexpenditureisalwayswrittenoffasanexpensetoprofitorloss216$6,600ElectricityExpensePrepaymentbroughtforward550Profitorloss(balancingfigure)6,600Cashpaid5,400Accrualcarriedforward6506,6006,60021722,000Irrecoverabledebtwrittenoff37,000debitDecreaseinallowanceforreceivables15,000creditExpenseinstatementofprofitorloss22,000debitWorkings:Tradereceivables30June20X6(517,000–37,000)480,000Allowanceforreceivables5%x480,00024,000Allowanceforreceivablesat30June20X539,000Decreaseinallowanceforreceivables(15,000)218$437,830$Listofbalancesonpayableledger438,900(1)Contra(980)(2)Doesnotaffectlistofbalances(3)Erroroninvoiceposting(90)Reconciledlistofbalancestocontrolaccount437,830Thereconciledbalanceisreportedinstatementoffinancialposition219CarriageinwardsDepreciationoffactorymachinery22017060$Openinginventory6,700Addpurchases84,000Lessclosinginventory(5,400)Costofsales85,3002Grossprofit=20%x$85,300=$17,06021Ordinarysharecapital:$225,000Sharepremiumaccount:$250,000OrdinarysharecapitalSharepremiumNoofshares$$At31December20X4500,000125,000100,000Rightsissue250,000at2562,500At75187,500750,000Bonus150,000at2537,500(37,500)At31December20X5900,000______225,000$250,0002221and3onlyAmortisationofdevelopmentcostsareexpensedtoprofitorloss223$55,000Depreciation$$240,000x20%x3/1212,000Disposal(60,000)$180,000x20%x3/129,000Purchase160,000$340,000x20%x6/1234,000Depreciationforyearended31December20X555,00022424HassanCo'scapitalemployed=ProfitbeforeinterestandtaxationCapitalemployedCapitalemployed=shareholdersequityplusnoncurrentliabilities=$10,200$42,500=24%225Salestaxisanexpensetotheultimatecustomerofthegoodspurchased–TrueSalestaxisrecordedasincomeintheaccountsoftheentitysellingthegoods-False2261,2,3and4Entriesrequiredtocorrect;$$(1)DRSuspenseaccountCROrdinaryShareCapital3,000Beingshortfallincapitalrecorded$$(2)DRPlanetassetaccount2,800DRPlanetrepairs2,800CRSuspense5,600Beingcorrectionofincorrectpostingtoincorrectaccount$$(3)DRPettyCash500CRSuspense500BeingcorrectionofomissionofPettycashbalance$$(4)DRSuspense9,000CRMotorVehiclecost9,000Beingcorrectionoferrorinamountpostedonpurchaseofcar227CannonCoshouldprovidefortheexpectedcostoftheclaimof$100,000Thereisan80%chancethatCannonCowilllosetheclaim–thereisthereforeanobligationanditisprobabletheywillberequiredtosettletheclaimfor$100,0002281015$Computer890Additionalmemory95Delivery10Installation20Capitalise1,015Themaintenancecostwillbeexpensedtoprofitorlossand,asasaletaxregisteredtrader,Garethwillreclaimthesalestaxsoitisnotacosttothebusinessandshouldnotbecapitalised.
229$3,670balanceatbank$Overdraftperbankstatement(3,860)Less:unpresentedcheques(9,160)(13,020)Add:outstandinglodgements16,690Cashatbank3,670230CompletenessNeutrality231$307,100Receivablesledgercontrolaccount$$Openingbalance308,600Cashreceivedfromcreditcustomers147,200Creditsales152,800Irrecoverabledebtswrittenoff4,900Interestchargedonoverdueaccounts2,400Contrasagainstcreditbalancesinpayablesledger4,600Closingbalance307,100463,800463,800232YesYesYesYesAllofthesematerialeventsprovideevidenceofconditionsthatexistedattheendofthereportingperiodandarethereforeadjustingeventsinaccordancewithIAS10EventsaftertheReportingPeriod.
233$188,500DateofissueandpurchaseQuantityunitsValuedissuesCostofissuesSale1November400400at$19076,000Sale15April250250at$19047,500Issued650Openinginventory700Closinginventory5050at$1909,500Purchased1July500500at$220110,000Purchased1February300300at$23069,000188,50023432,400Capital=Asset-liabilitiesAt1January20X8156,560=569,400–412,840Capitalintroduced65,000Drawings($800x12)(9,600)Profit(balancingfigure)32,400At31December20X8244,360=614,130–369,770235Discountsreceivedof$150wasextractedtothedebitcolumnofthetrialbalance.
Discountsreceivedisacreditbalanceandisanerrorofcommission.
Thetrialbalancedebitsexceedthecreditsby$300asthereisanincorrectdebitof$150andalsoanomissiononthecreditsideof$1502MTQ36Task1(11marks)Consolidatedstatementofprofitorlossfortheyearended31May20X6'000Revenue8,400+3,200–1,500Less:Costofsales4,600+1,700–1,500+(30%x500)Grossprofit5150Less:Distributioncosts2010(1500+510)Administrativecosts1150(700+450)Profitbeforetax1990Less:Tax740(600+140)Profitfortheyear1250Attributableto:EquityownersofKeswickCoGroupprofitfortheyear–Non-controllinginterestNon-controllinginterest80(400x20%)Task2(4marks)SignificantinfluenceNoControlYesNon-controllinginterestYesGreaterthan50%oftheequitysharesbeingheldbyaninvestorYes100%oftheequitysharesbeingheldbyaninvestorYesGreaterthan50%ofthepreferencesharesbeingheldbyaninvestorNo50%ofallsharesanddebtbeingheldbyaninvestorNoGreaterthan50%ofpreferencesharesanddebtbeingheldbyaninvestorNoMTQ37Task1(4marks)BuildingsatcostsYesBuildingsaccumulateddepreciationat1November20X6NoPlantatcostYesPlantaccumulateddepreciationat1November20X6NoBankbalanceYesRevenueNoNetpurchasesNoInventoryat1November20X6NoCashYesTradepayablesYesTradereceivablesYesAdministrativeexpensesNoAllowanceforreceivablesat1November20X6NoRetainedearningsat1November20X6NoEquityshares,$1YesSharepremiumaccountYesTask2(3marks)TradereceivableNodebitorcreditAdministrativeexpensesDebitAllowanceforreceivablesCreditRevenueNodebitorcreditProfitorloss6thousand$'0005%x32016Broughtforward10Increase6Task3(5marks)AdministrativeexpensesNodebitorcreditCostofsalesDebitBuildingscostNodebitorcreditPlantcostNodebitorcreditBuildingsaccumulateddepreciationCreditPlantaccumulateddepreciationCreditBuildingsdepreciationcharge37thousand$(740,000x5%)Plantdepreciationcharge22thousand$(220,000–110,000)x20%Task4(1.
5marks)Costofsales1225thousandOpeninginventory160,000Netpurchases1,140,000Closinginventory(75,000)Costofsales1,225,000Task5(1.
5marks)DebitAdministrativeexpensesCreditAccrualAdjustmentvalue10thousand$(15,000x2/3)
Re-arrangingtheequation:Openingnetassets–drawings+capitalintroduced+netprofit=closingnetassets22Theexactamountofexpenditureisreimbursedatintervalstomaintainafixedfloat232and3only24331760$TradePayablesat1July20X560,000Cashpaidtosuppliers(302,800)Discountsreceived(2,960)Contrabetweenpayablesandreceivablesledger(2,000)Purchases(BalancingFigure)331,760TradePayables30June20X6ORTradePayables$$CashPaid302,800Balance1July20X560,000DiscountsReceived2,960Contrabetweenpayablesandreceivablesledger2,000Purchases(BalancingFigure)331,760TradePayables30June20X684,000391,760391,76025Achequereceivedfromacustomerwascreditedtocashandcorrectlyrecognisedinreceivables–thecorrectentryshouldhavebeenadebittocashRentreceivedwasincludedinthetrialbalanceasadebitbalance–rentreceivedisacreditbalance26Currentassets:$22,240Currentliabilities:$nilCurrentassetsCurrentliabilities$$(1)EmployeeLoan12,000(1)LoanInterest(12,000x2%)240(2)Prepayment$9,000x8/126,000(3)Accruedincome$4,0004,00022,240Nil2797,100Currentassets$Netprofit83,600Addbackincorrectexpense18,000Lessdepreciation(18,000x25%)(4,500)Adjustednetprofit(97,100)28XenaCoissufferingfromaworseningliquiditypositionin20X9–Thecurrentratio(currentassets:currentliabilities)hasdecreased29Astatementofcashflowspreparedusingthedirectmethodproducesadifferentfiguretonetcashfromoperatingactivitiesfromthatproducediftheindirectmethodisused–FalseRightissuesofsharesdonotfeatureinastatementofcashflows–FalseAsurplusonrevaluationofanon-currentassetwillnotappearasaniteminastatementofcashflows–TrueAprofitonthesaleofanon-currentassetwillappearasanitemundercashflowsfrominvestingactivitiesinastatementofcashflows–FalseTheprofitonsalewillbedeductedfromtheprofitbeforetaxintheoperatingactivitiessectionofthestatementofcashflows.
Thecashproceedswillappearunderinvestingactivities.
210$475,900$Rentreceivedinadvance30April20X528,700Less:rentinarrears30April20X5(21,200)Addrecentreceivedinyear481,200Lessrentreceivedinadvance30April20X6(31,200)Addrentinarrears30April20X618,400Rentalincomeinstatementofprofitorloss475,900211Asoletrader'sfinancialstatementsareprivate;acompany'sfinancialstatementsaresenttoshareholdersandmaybepublicallyfiledAsoletraderisfullyandpersonallyliableforanylossesthatthebusinessmightmake212Theanalysisoffinancialstatementsusingratiosprovidesusefulinformationwhencomparedwithpreviousperformanceorindustryaverages213$36,750Dr214TheusefullivesofintangibleassetscapitalisedinthefinancialstatementsImpairmentlosseswrittenoffintangibleassetsduringtheperiodThesearerequiredbyIAS38IntangibleAssets2152onlyCapitaliseddevelopmentexpenditureisamortisedovertheperioditisexpectedtogenerateeconomicbenefits.
Researchexpenditureisalwayswrittenoffasanexpensetoprofitorloss216$6,600ElectricityExpensePrepaymentbroughtforward550Profitorloss(balancingfigure)6,600Cashpaid5,400Accrualcarriedforward6506,6006,60021722,000Irrecoverabledebtwrittenoff37,000debitDecreaseinallowanceforreceivables15,000creditExpenseinstatementofprofitorloss22,000debitWorkings:Tradereceivables30June20X6(517,000–37,000)480,000Allowanceforreceivables5%x480,00024,000Allowanceforreceivablesat30June20X539,000Decreaseinallowanceforreceivables(15,000)218$437,830$Listofbalancesonpayableledger438,900(1)Contra(980)(2)Doesnotaffectlistofbalances(3)Erroroninvoiceposting(90)Reconciledlistofbalancestocontrolaccount437,830Thereconciledbalanceisreportedinstatementoffinancialposition219CarriageinwardsDepreciationoffactorymachinery22017060$Openinginventory6,700Addpurchases84,000Lessclosinginventory(5,400)Costofsales85,3002Grossprofit=20%x$85,300=$17,06021Ordinarysharecapital:$225,000Sharepremiumaccount:$250,000OrdinarysharecapitalSharepremiumNoofshares$$At31December20X4500,000125,000100,000Rightsissue250,000at2562,500At75187,500750,000Bonus150,000at2537,500(37,500)At31December20X5900,000______225,000$250,0002221and3onlyAmortisationofdevelopmentcostsareexpensedtoprofitorloss223$55,000Depreciation$$240,000x20%x3/1212,000Disposal(60,000)$180,000x20%x3/129,000Purchase160,000$340,000x20%x6/1234,000Depreciationforyearended31December20X555,00022424HassanCo'scapitalemployed=ProfitbeforeinterestandtaxationCapitalemployedCapitalemployed=shareholdersequityplusnoncurrentliabilities=$10,200$42,500=24%225Salestaxisanexpensetotheultimatecustomerofthegoodspurchased–TrueSalestaxisrecordedasincomeintheaccountsoftheentitysellingthegoods-False2261,2,3and4Entriesrequiredtocorrect;$$(1)DRSuspenseaccountCROrdinaryShareCapital3,000Beingshortfallincapitalrecorded$$(2)DRPlanetassetaccount2,800DRPlanetrepairs2,800CRSuspense5,600Beingcorrectionofincorrectpostingtoincorrectaccount$$(3)DRPettyCash500CRSuspense500BeingcorrectionofomissionofPettycashbalance$$(4)DRSuspense9,000CRMotorVehiclecost9,000Beingcorrectionoferrorinamountpostedonpurchaseofcar227CannonCoshouldprovidefortheexpectedcostoftheclaimof$100,000Thereisan80%chancethatCannonCowilllosetheclaim–thereisthereforeanobligationanditisprobabletheywillberequiredtosettletheclaimfor$100,0002281015$Computer890Additionalmemory95Delivery10Installation20Capitalise1,015Themaintenancecostwillbeexpensedtoprofitorlossand,asasaletaxregisteredtrader,Garethwillreclaimthesalestaxsoitisnotacosttothebusinessandshouldnotbecapitalised.
229$3,670balanceatbank$Overdraftperbankstatement(3,860)Less:unpresentedcheques(9,160)(13,020)Add:outstandinglodgements16,690Cashatbank3,670230CompletenessNeutrality231$307,100Receivablesledgercontrolaccount$$Openingbalance308,600Cashreceivedfromcreditcustomers147,200Creditsales152,800Irrecoverabledebtswrittenoff4,900Interestchargedonoverdueaccounts2,400Contrasagainstcreditbalancesinpayablesledger4,600Closingbalance307,100463,800463,800232YesYesYesYesAllofthesematerialeventsprovideevidenceofconditionsthatexistedattheendofthereportingperiodandarethereforeadjustingeventsinaccordancewithIAS10EventsaftertheReportingPeriod.
233$188,500DateofissueandpurchaseQuantityunitsValuedissuesCostofissuesSale1November400400at$19076,000Sale15April250250at$19047,500Issued650Openinginventory700Closinginventory5050at$1909,500Purchased1July500500at$220110,000Purchased1February300300at$23069,000188,50023432,400Capital=Asset-liabilitiesAt1January20X8156,560=569,400–412,840Capitalintroduced65,000Drawings($800x12)(9,600)Profit(balancingfigure)32,400At31December20X8244,360=614,130–369,770235Discountsreceivedof$150wasextractedtothedebitcolumnofthetrialbalance.
Discountsreceivedisacreditbalanceandisanerrorofcommission.
Thetrialbalancedebitsexceedthecreditsby$300asthereisanincorrectdebitof$150andalsoanomissiononthecreditsideof$1502MTQ36Task1(11marks)Consolidatedstatementofprofitorlossfortheyearended31May20X6'000Revenue8,400+3,200–1,500Less:Costofsales4,600+1,700–1,500+(30%x500)Grossprofit5150Less:Distributioncosts2010(1500+510)Administrativecosts1150(700+450)Profitbeforetax1990Less:Tax740(600+140)Profitfortheyear1250Attributableto:EquityownersofKeswickCoGroupprofitfortheyear–Non-controllinginterestNon-controllinginterest80(400x20%)Task2(4marks)SignificantinfluenceNoControlYesNon-controllinginterestYesGreaterthan50%oftheequitysharesbeingheldbyaninvestorYes100%oftheequitysharesbeingheldbyaninvestorYesGreaterthan50%ofthepreferencesharesbeingheldbyaninvestorNo50%ofallsharesanddebtbeingheldbyaninvestorNoGreaterthan50%ofpreferencesharesanddebtbeingheldbyaninvestorNoMTQ37Task1(4marks)BuildingsatcostsYesBuildingsaccumulateddepreciationat1November20X6NoPlantatcostYesPlantaccumulateddepreciationat1November20X6NoBankbalanceYesRevenueNoNetpurchasesNoInventoryat1November20X6NoCashYesTradepayablesYesTradereceivablesYesAdministrativeexpensesNoAllowanceforreceivablesat1November20X6NoRetainedearningsat1November20X6NoEquityshares,$1YesSharepremiumaccountYesTask2(3marks)TradereceivableNodebitorcreditAdministrativeexpensesDebitAllowanceforreceivablesCreditRevenueNodebitorcreditProfitorloss6thousand$'0005%x32016Broughtforward10Increase6Task3(5marks)AdministrativeexpensesNodebitorcreditCostofsalesDebitBuildingscostNodebitorcreditPlantcostNodebitorcreditBuildingsaccumulateddepreciationCreditPlantaccumulateddepreciationCreditBuildingsdepreciationcharge37thousand$(740,000x5%)Plantdepreciationcharge22thousand$(220,000–110,000)x20%Task4(1.
5marks)Costofsales1225thousandOpeninginventory160,000Netpurchases1,140,000Closinginventory(75,000)Costofsales1,225,000Task5(1.
5marks)DebitAdministrativeexpensesCreditAccrualAdjustmentvalue10thousand$(15,000x2/3)
racknerd新上架“洛杉矶”VPS$29/年，3.8G内存/3核/58gSSD/5T流量
racknerd发表了2021年美国独立日的促销费用便宜的vps，两种便宜的美国vps位于洛杉矶multacom室，访问了1Gbps的带宽，采用了solusvm管理，硬盘是SSDraid10...近两年来，racknerd的声誉不断积累，服务器的稳定性和售后服务。官方网站：https://www.racknerd.com多种加密数字货币、信用卡、PayPal、支付宝、银联、webmoney，可以付...
两款半月湾 HMBcloud 春节88折日本和美国CN2 VPS主机套餐
春节期间我们很多朋友都在忙着吃好喝好，当然有时候也会偶然的上网看看。对于我们站长用户来说，基本上需要等到初八之后才会开工，现在有空就看看是否有商家的促销。这里看到来自HMBcloud半月湾服务商有提供两款春节机房方案的VPS主机88折促销活动，分别是来自洛杉矶CN2 GIA和日本CN2的方案。八八折优惠码：CNY-GIA第一、洛杉矶CN2 GIA美国原生IP地址、72小时退款保障、三网回程CN2 ...
创梦网络-江苏宿迁BGP云服务器100G高防资源,全程ceph集群存储,安全可靠,数据有保证,防护真实,现在购买7折促销,续费同价！
官方网站：点击访问创梦网络宿迁BGP高防活动方案：机房CPU内存硬盘带宽IP防护流量原价活动价开通方式宿迁BGP4vCPU4G40G+50G20Mbps1个100G不限流量299元/月 209.3元/月点击自助购买成都电信优化线路8vCPU8G40G+50G20Mbps1个100G不限流量399元/月 279.3元/月点击自助购买成都电信优化线路8vCPU16G40G+50G2...
cn163 net为你推荐
-
ovOV是什么意思，还有HR是什么意思？注：某两个英文单词缩写。深圳公交车路线深圳公交车路线bluestacksbluestacks怎么用？godaddygodaddy域名怎样使用xv播放器下载求手机可以看xv格式的视频播放器免费免费建站我想建一个自己的免费网站,但不知道那里有..免费免费建站电脑上有真正免费的网站吗??mate8价格华为mate8市场价多少2012年正月十五2012年正月十五 几月几号iphone6上市时间苹果6什么时候出？