单项选择题

A manufacturer has the following figure for the product A Original Data Increase Variable Cost to ＄15 Unit selling 30 30 Unit variable cost 10 15 Fixed cost 3,000 3,000 Budget selling units 300 300 Margin of safety is ______. (a)increase 50 units (b)increase 100 units (c)decrease 50 units (d)decrease 100 units

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Retained Earnings is most appropriately classified as ______. (a)a fixed asset (b)an intangible asset (c)shareholder's equity (d)a fictitious Iiability

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When fixed assets are bought under a hire purchase agreement, the Him Purchase Interest Suspense is recorded in ______. (a)fixed assets (b)shareholder's equity (c)intangible assets (d)liabilities

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The accounting concept or convention, which, stock be reported at the lower of cost or market price, is the ______. (a)going concern concept (b)prudence concept (c)realization concept (d)historical cost concept

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Revenue Expenditure is the expenditure ______. (a)relating to the acquisition of fixed assets (b)relating to the issue of bond (c)relating to converting a partnership into a limited company (d)on wages of staff

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A business has the following figures for the year ended 31 December 2000 ＄ Stock at beginning of period 85,000 Stock at the end of period 90,000 Purchases 300,000 Purchases return 25,000 Cost of goods sold is ______. (a)＄295,000 (b)＄270,000 (c)＄305,000 (d)＄280,000

If a company had 120,000, 4% preference shares of ＄1 each and 250,000 ordinary shares of ＄ 1 each, then the dividends would be payable as follows: Year 1 Year 2 Year 3 Year 4 Year 5 ＄＄＄＄＄ Total Profits appropriated for dividends 7,000 3,000 20,000 4,000 5,000 Required: (a)If the preference shares are cumulative, non-participating, calculate the preference dividends and ordinary dividends in each year. (b)If the preference shares are cumulative, participating, calculate the preference dividends and ordinary dividends in each year.

答案： (a)If the preference shares are cumulative, non-participatin...

单项选择题

A manufacturer has the following figure for the product A Original Data Increase Variable Cost to ＄15 Unit selling 30 30 Unit variable cost 10 15 Fixed cost 3,000 3,000 Budget selling units 300 300 Margin of safety is ______. (a)increase 50 units (b)increase 100 units (c)decrease 50 units (d)decrease 100 units

单项选择题

单项选择题

An asset that was acquired at a cost of ＄110,000 on 1 January Year 1, has an estimated scrap value of ＄10,000 and an estimated useful life of 4 years, the annual depreciation in Year 3 that is calculated using the sum-of-the-year’s-digits is ______. (a)＄40,000 (b)＄20,000 (c)＄10,000 (d)＄30,000

单项选择题

If a trade debtor of ＄20,000 has been wrongly posted to the credit of the trade creditor, but has been correctly entered in the buyer’s account, the total of the trial balance would show ______. (a)the credit side to be ＄20,000 more than the debit side (b)the debit side to be ＄20,000 more than the credit side (c)the credit side to be ＄40,000 mom than the debit side (d)the debit side to be ＄40,000 more than the credit side

As at 31 December Year 8, Sam Ltd’s cash book showed a debit balance of ＄1,055, although he had an overdraft of ＄3,511. The discrepancy is due to the following: —Bank interest of ＄10 had been included in the bank statement, but was not recorded in the cash book. —A cheque for ＄2,300 was banked on 28 December and correctly entered in the cash book. Unfortunately the customer had forgotten to sign the cheque and it was subsequently dishonored and returned by the bank on 31 December. The book-keeper recorded the return in the cash book on 3 January Year 9. —The bank had incorrectly deducted ＄907 from Sam’s account for a cheque drawn by May. —A refund of ＄85 received from a supplier and banked on 2 October had been recorded in the cash book as a receipt of ＄58. —A cheque for ＄450 issued on 29 December as a refund to a customer had been recorded as a receipt in the cash book. It has not been presented for payment by 31 December. —The book-keeper had intended to desposit ＄2,750 in the bank on 31 December and therefore recorded it as a receipt in the cash book on that date. Due to a delay, the amount was not banked until 3 January Year 9. —An amount of ＄350 paid directly into the bank by a customer had not been recorded in the cash book. —The cash book receipts had been undercast by ＄800. Required: (a)Calculate the corrected cash book balance on 31 December Year 8. (b)Prepare a bank reconciliation statement for Sam showing the bank overdraft which appeared on his bank statement on that date.

答案： (a)Corrected Cash Book Balance: ...

(a)List 4 important features about budgetary control. (b)Sunny Ltd. has the following information for the year ended 31 December 2003: Budgeted Actual Level of activity 75% 80% ＄＄ Costs: Direct materials 75,000 75,000 Direct labour 225,000 200,000 Variable overhead 37,500 43,000 Total variable cost 337,500 318,000 Fixed overhead 150,000 170,000

Required: Prepare a flexible budget for Sunny Ltd. for the year ended 31 December 2003.

答案： (a)—Responsibilities have to be clearly and carefully define...

单项选择题

Which one is not included in the financial statement footnote (a)changes in accounting estimates. (b)accounting methods used in preparing the financial statement. (c)contingent liabilities can not be, reasonably estimated. (d)debtors which happened before the balance sheet date are collected between the balance sheet date and the issue of statement for that year.

Sam Company Ltd. produces a range of products and absorbs production overhead using a rate of 168% on direct wages. The absorption rate was calculated from following budgeted figures: ＄ Direct wages 100,000 Fixed production overhead 90,000 Variable production overhead 78,000 Sam is making component W, which is an essential part of product M. The cost of making component W is as follows: ＄ Raw material 10 Direct wages 8 Production overhead 18 36 It is found that component W could be bought from an outside supplier at ＄21. It is unlikely to reduce any production costs even if component W is acquired from outside. Required: (a)Determine the overhead absorption rate. (b)Advise whether the company should continue making component W or buy it from outside.

答案： (a)The overhead absorption rates are determined as follows: ...