Financial Accounting(ACCA)學(xué)習(xí)通超星期末考試答案章節(jié)答案2024年

FinancialAccounting(ACCA)學(xué)習(xí)通超星期末考試章節(jié)答案2024年Which

of

the

following

explains

the

imprest

system

of

operating

petty

cash?

答案:The

exact

amount

of

expenditure

is

reimbursed

at

intervals

to

maintain

a

fixed

floatHow

is

the

total

of

the

purchases

day

book

posted

to

the

nominal

ledger?

答案:Debit

purchases,

Credit

payablesWhich

of

the

following

are

books

of

prime

entry?1

Sales

day

book2

Cash

book3

Journal4

Purchase

ledger

答案:1,

2

and

3

onlyIf

sales

of

$150

has

been

wrongly

entered

on

the

debit

side

of

the

purchases

account,

but

correctly

entered

in

the

trade

receivables

account,

the

totals

on

the

trial

balance

would

show

答案:The

debit

side

to

be

$300

more

than

the

credit

side

Simran

uses

the

imprest

method

of

accounting

for

petty

cash.

She

counted

the

petty

cash

and

there

was

$80.00

in

hand.There

were

also

the

following

petty

cash

vouchers:Sundry

purchases

$

50.00Loan

to

sales

manager

$

30.00Sundry

sales

receipts

$

40.00What

is

Simran’s

imprest

amount?

答案:$120.00Which

of

the

following

documents

should

accompany

a

return

of

goods

to

a

supplier?

答案:Debit

noteAccording

to

the

IASB

Framework

which

of

the

following

is

not

an

objective

of

financial

statements?

答案:

Helping

to

assess

the

going

concern

status

of

a

businessWhich

of

the

following

are

differences

between

sole

traders

and

limited

liability

companies?

(1)

A

sole

traders’

financial

statements

are

private;

a

company’s

financial

statements

are

sent

to

shareholders

and

are

publicly

filed

(2)

Only

companies

have

capital

invested

into

the

business

(3)

A

sole

trader

is

fully

and

personally

liable

for

any

losses

that

the

business

might

make;

a

company’s

shareholders

are

not

personally

liable

for

any

losses

that

the

company

might

make.

答案:1

and

3

only

Thefollowingtransactionswererecordedinacompany’sbooksduringoneweekofitstradingyear:Tradepurchases(atlistprice)$4,500Salesoncredit(atlistprice)$6,000Purchaseofavan$10,460Entertaining$360Purchaseofacarforasalesrepresentative(80%businessuse20%personaluse)$8,600

答案:$544.50creditDuringAprilacompanyreceivesinvoicesfor$12,000less5%tradediscountrelatingtogoodsboughtoncreditandsells$20,000worthofgoodsatlistpriceless6%tradediscounttocreditcustomers(bothfiguresaregivenexclusiveofsalestaxat17.5%anddiscounts).GivennoopeningbalanceonthesalestaxaccountatthebeginningofApril,whatistheclosingbalanceattheendofApril?

答案:$1,295Cr/star3/origin/8f9a86cb1933a8ce9c2a447338d2bac5.jpg

答案:Seeabove,BThepreliminarytrialbalanceofJessieandCoasat30September20X7included:Furtheradjustmentsaretobemadeasfollows:Noentrieshavebeenmadeinrespectofcashof$1,320receivedfromDomeCowhosebalancehadbeenwrittenofflastyear,andAt30September20X7aallowanceisrequiredagainstabalanceof$1,950duefromJedCoaswellasageneralallowanceof1.5%ofremainingdebts.Thebadanddoubtfuldebtexpenseintheincomestatementis

答案:$1,451/star3/origin/a2f3c76e71bfacd0776cd7fd02612765.jpg

答案:Seeabove,ATheadjustedtrialbalanceforWorkerProductsCompanygivenbelow:

WorkerProductsCompany

AdjustedTrialBalance

December31DebitCreditCash$

9,400Accounts

receivable25,000Merchandise

inventory36,000Office

supplies900Store

equipment75,000Accumulated

depreciation-storeequipment$

22,000Office

equipment60,000Accumulated

depreciation-officeequipment15,000Accounts

payable42,000Notes

payable10,000F.Worker,

Capital110,700F.Worker,

Withdrawals48,000Sales325,000Sales

discounts6,000Sales

returnsandallowances16,500Costof

goodssold195,000Sales

salariesexpense32,500Depreciation

expense-storeequipment11,000Depreciation

expense-officeequipment7,500Office

suppliesexpense1,300Interest

expense600Totals$524,700$524,700Required:

1.

Prepareastatementofprofitorloss.2.

Prepareastatementoffinancialposition.

答案:1.

WorkerProductsCompany

Statementofprofitorloss

FortheyearendedDecember31Sales.............................................................................$325,000Less:Salesdiscounts.............................................................................$6,000Salesreturnsandallowances....................................................................16,500

22,500$302,500Netsales..........................................................................Costofgoodssold.............................................................................195,000107,500Grossprofit.............................................................................Salessalariesexpense....................................................................32,500Depreciationexpense–storeequipment....................................................................11,000Depreciationexpense—officeequipment....................................................................7,500

Officesuppliesexpense....................................................................1,300Interestexpenses

…………

600Totalexpense....................................................................

52,900$54,600Netincome.............................................................................

2.WorkerProductsCompanyStatementoffinancialposition31-DecAssetsCurrentassetsCash9,400Accountsreceivable25,000Merchandiseinventory36,000Officesupplies900

Totalcurrentassets$71,300Non-currentassets

Storeequipment……………..$

75,000

Less:accumulateddepreciation…22,000$53,000

Officeequipment………60,000

Less:accumulateddepreciation……………….15,00045,000

Totalnon-currentassets98,000Totalassets$169,300LiabilitiesCurrentliabilities

Accountspayable$42,000

Notepayable10,000

Totalcurrentliabilities$52,000Owners'EquityF.Worker,Capital110,700less:F.Worker,Withdrawals48,000Retainedearnings54,600Totalequity117,300Totalliabilitiesandequity$169,300TheinventoryvalueforthefinancialstatementsofXfortheyearended31May2008wasbasedonaninventorycounton4June2008,whichgaveatotalinventoryvalueof$836,200.Between31Mayand4June2008,thefollowingtransactionstookplace:Purchasesofgoods

$8,600Salesofgoods(profitmargin30%onsales)

$14,000GoodsreturnedbyXtosupplier

$700Whatadjustedfigureshouldbeincludedinthefinancialstatementsforinventoriesat31May2008?

答案:$838,100Abusinesshasopeninginventoriesof$273andmakespurchasesduringtheyearof$2,781.Theproprietor

removes

goods

costing

$87

for

his

own

use.

The

business

achieves

a

constant

mark-up

of

20%oncostandrecordssalesfortheyearof

$3,360.Whatisthecostofclosing

inventories?

答案:$167Russell’sbookkeepertransposedsomefigureswhentheweek’scashpaymentswerebeingpostedtothenominalledger.Paymentsforstaffwagesof$125werepostedtothewagesaccountas$152andpaymentsof$31forstationerywerepostedtothestationeryexpenseaccountas$13.Theentryrequiredtocorrectthisis

答案:Drstationery$18

Drsuspense$9

Crwages$27Duncancorrectedthefollowingerrorsbeforeproducinghisfinalbalancesheet.Whatwasthebalanceonthesuspenseaccountbeforehedidthis?(i)SalesdaybookforMarchovercastby$63.(i)Cashreceiptsfromdebtorsof$713postedtothesalesledgercontrolaccountas$731.(iii)Cashreceivedfromtheissueof$1,000debenturesatparhadbeenpostedtoasuspenseaccount.

答案:$982CrJeremy’sbusinessbankstatementshowedanoverdrawnbalanceof$3,230on31October20X7.Whenthiswasreconciledtothecashbook,thefollowingdifferenceswerenoted:Unpresentedcheques$1,070Unrecordedlodgements$1,240Standingorderforinsurancepremiumnotenteredinthecashbook$890Overdraftinterestnotrecordedinthecashbook$80CreditedinerrortoJeremy’saccountbythebank$300WhatwastheoriginalbalanceonJeremy’scashbookat31October20X7?

答案:$2,390creditWhichofthefollowingstatementsaboutbankreconciliationsarecorrect?（1）Inpreparingabankreconciliation,unpresentedchequesmustbedeductedfromabalanceofcashatbankshowninthebankstatement.（2）Achequefromacustomerpaidintothebankbutdishonouredmustbecorrectedbymakingadebitentryinthecashbook.（3）Anerrorbythebankmustbecorrectedbyanentryinthecashbook.（4）Anoverdraftisadebitbalanceinthebankstatement.

答案:1and4/star3/origin/116df1693f69bb14ec92b07111f1a247

答案:Refundof$300wasomittedfromthereceivablesledgerWomble&Sonshaveanaccountingyearended31December20X8.Atthatdatethebalanceonthesalesledgercontrolaccountwas$65,000,butthetotaloftheindividualaccountsinthesalesledgercameto$63,620.Uponinvestigationthefollowingfactswerediscovered:（1）Thesalesdaybooktotalforweek49hadbeenovercastby$300.（2）Acreditbalanceof$210onOrinoco’saccountshadbeenincorrectlytreatedasadebitentrywhenlistingthereceivablesledger.（3）Apayablesledgercontraof$1,500hasbeenenteredinBungo’saccountinthereceivablesledgerbutnootherentryhadbeenmade.Theadjustedbalanceonthereceivablescontrolaccountis

答案:$63,200/star3/origin/9d4091d4835fb62c0003a6c63a5a331e

答案:BInacashflowstatement,adecreaseinloanstockwouldbeshownas

答案:acashoutflowunder‘Cashflowsfromfinancingactivities‘/star3/origin/c4693cf2628c079164fc49f0a04566b3

答案:$567,000Thefollowingareexamplesofeventswhichmightoccurbetweenthebalancesheetdateandthedateonwhichthefinancialstatementsareauthorisedforissue:（1）lossesoninventoriesasaresultofacatastrophesuchasafireorfloodaftertheyearend（2）thediscoveryof