- 13 Which of the following correctly describes the imprest system for operating petty cash?A
All expenditure out of petty cash must be supported by a properly authorised voucher.
A regular equal amount
- 10 What would the company’s profit become after the correction of the above errors?$634,760
$624,760
$624,440
$625,240#630,000 – 4,320 – 440
- In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.What is the correct treatment of the estate income for individual income tax purposes?
The estate inc
- 18 How should interest charged on partners’ drawings appear in partnership financial statements?As income in the income statement
Added to net profit and charged to partners in the division of profit#
- 19 What is the company’s return on shareholders’ equity?15/40 = 37·5%
20/100 = 20%
15/100 = 15%#
20/150 = 13·3%C
- 18 Which of the following statements about accounting ratios and their interpretation are correct?1 A low-geared company is more able to survive a downturn in profit than a highly-geared company.
2 If
- 19 What is the company’s return on shareholders’ equity?15/40 = 37·5%
20/100 = 20%
15/100 = 15%#
20/150 = 13·3%C
- Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:Latterly paid $12,650 (half of the cost) on 1 April 2014 and would pay the remaining $12,650 on 31 M
- 19 What is the company’s return on shareholders’ equity?15/40 = 37·5%
20/100 = 20%
15/100 = 15%#
20/150 = 13·3%C
- Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
- The following information is available for a manufacturing company which produces multiple products:(i) The product mix ratio
(ii) Contribution to sales ratio for each product
(iii) General fixed cost
- 18 How should interest charged on partners’ drawings appear in partnership financial statements?As income in the income statement
Added to net profit and charged to partners in the division of profit#
- Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
- In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.What is the correct treatment of the estate income for individual income tax purposes?
The estate inc
- C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective is to maximise profit, the shadow price of material B is $2 per kg. The following state
- Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:Latterly paid $12,650 (half of the cost) on 1 April 2014 and would pay the remaining $12,650 on 31 M
- 14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.Beta submitted a statement to Alpha as at the same date showing a balance due of $5,200.
Wh
- In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterfound that $18,000 paid for the purchase of a motor van had been debited to motor expense
- 24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minorityinterest?$32,000
$16,000
$10,000
$24,000#20% x 120,000
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