The year end of M Co is 30 November 20X0. The company pays for its gas by a stan-新东方在线职业题库

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The year end of M Co is 30 November 20X0. The company pays for its gas by a standing order of $600 per month. On 1

December 20W9, the statement from the gas supplier showed that M Co had overpaid by $200. M Co received gas bills for

the four quarters commencing on 1 December 20W9 and ending on 30 November 20X0 for $1,300, $1,400, $2,100 and

$2,000 respectively

Which of the following is the correct charge for gas in M Inc's statement of profit or loss for the year ended 30 November

20X0?

A

$6,800

B

$7,000

C

$7,200

D

$7,400

Chapter10Accrualsandprepayments

GAS SUPPLIER ACCOUNT

$

Balance b/fwd 200

Bank $600 x 12 7,200 28 February

$

31 May invoice 1,300

31 August invoice 1,400

30 November invoice 2,100

30 November invoice bal. c/d 2,000

600

7,400

GAS ACCOUNT $

28 Februay invoice 1,300

31 May invoice 1,400

31 August invoice 2,100

30 November invoice 2,000 30 November SPL 6，800

6，800

多做几道

Which of the following is a ratio which is used to measure how much a business owes in relation to its size?

A

Asset turnover

B

Profit margin

C

Gearing

D

Return on capital employed

A business operates on a gross profit margin of 331/3%. were $680. Gross profit on a sale was $800, and expenses

What is the net profit margin?

A

3.75%

B

5%

C

11.25%

D

22.67%

A company has the following details extracted from its statement of financial position：

$'000

Inventories 1,900

Receivables 1,000

Bank overdraft 100

Payables 1,000

The industry the company operates in has a current ratio norm of 1.8. Companies who manage liquidity well in this industry

have a current ratio lower than the norm.

Which of the following statements accurately describes the company’s liquidity position?

A

Liquidity appears to be well managed as the bank overdraft is relatively low

B

Liquidity appears to be poorly-controlled as shown by the large payables balance

C

Liquidity appears to be poorly-controlled as shown by the company’s relatively high current ratio

D

Liquidity appears to be poorly-controlled as shown by the existence of a bank

Why is analysis of financial statements carried out?

A

So that the analyst can determine a company’s accounting policies

B

So that the significance of financial statements can be better understood through comparisons

with historical performance and with other companies

C

To get back to the ‘real’ underlying figures, without the numbers being skewed by the

requirements of International Financial Reporting Standards

D

To produce a report that can replace the financial statements, so that the financial statements

no longer need to be looked at

Which of the following transactions would result in an increase in capital employed?

A

Selling inventory at a profit

B

Writing off a bad debt

C

Paying a payable in cash

D

Increasing the bank overdraft to purchase a non-current asset

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