A fire on 30 September 20X2 destroyed some of a company's inventory and its inve-新东方在线职业题库

新东方在线题库 > ACCA英国注册会计师试题 > F3 > Chapter15-18 > A fire on...

A fire on 30 September 20X2 destroyed some of a company's inventory and its inventory records. The following information is available: $

Inventory 1 September 20X2 318.000

Sales for September 20X2 612.000

Purchases for September 20X2 412.000

Inventory in good condition at 30 September 20X2 214.000

Standard gross profit percentage on sales is 25%

Based on this information, what is the value of the inventory lost?

A

$96,000

B

$271,000

C

$26,400

D

$57,000

Chapter17Incompleterecords

$

Opening inventory 318,000

Purchases 412,000

Closing inventory (214,000)

516,000

Notional cost of sales (612,000 x 75%) (459,000)

Inventory lost 57,000

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

最新试题

该科目易错题

该题目相似题

Jones Co has the following transactions：1 Payment of $400 to J Bloggs for a cash purchase2 Payment of $250 to J Doe in respect of an invoice for goods purchased last monthWhat are the correct ledger entries to record these transactions?A Dr Cash $650 Cr Purchases $650BDr Purchases $650 Cr Cash $650 C Dr Purchases $400 Dr Trade Payables $250 Cr Cash $650D Dr Cash $650 Cr Trade Payables $250 Cr Purchases $400
Which of the following are books of prime entry?1 Sales day book2 Cash book3 Journal4 Purchase ledgerA1 and 2 onlyB1, 2 and 3 onlyC1 onlyDAll of them
Smith Co has the following transactions:1 Purchase of goods on credit from T Rader: $4502 Return of goods purchased on credit last month to T Rouble: $700What are the correct ledger entries to ?ADr Purchases $450 Dr Purchase Returns $700 Cr Cash $450 Cr Trade Payables $700BDr Purchases $450 Dr Trade Payables $700 Cr Purchase Returns $1,150 CDr Purchases $450 Dr Trade Payables $250 Cr Purchase Returns $700DDr Purchase Returns $700 Dr Purchases $450 Cr Trade Payables $1,150
The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as follows：PLANT AND MACHINERY - COST 20X3 $ 20X31 $ 1 Jul 20X4 Balance 240,000 30 Sep Transfer disposal account 20X4 60,000 1 Jan Cash - purchase of plant 160,000 340,00 400,000 30 Jun Balance 400 ,000The company's policy is to charge depreciation at 20% per year on the reducing balance basis, with proportionate depreciation in the years of purchase and disposal What should be the depreciation charge for the year ended 30 June 20X4?A$68,000B$64,000C$61,000D$55,000
Which of the following best explains what is meant by 'capital expenditure'?AExpenditure on non-current assets, including repairs and maintenance BExpenditure on expensive assets CExpenditure relating to the issue of share capital DExpenditure relating to the acquisition or improvement of non-current assets
Banjo Co purchased a building on 30 June 20X8 for $1,250,000. At acquisition, the useful life of the building was 50 years. Depreciation is calculated on the straight-line basis. 10 years later, on 30 June 20Y8 when the carrying amount of the building was $1,000,000, the building was revalued to $1,600,000. Banjo Co has a policy of transferring the excess depreciation on revaluation from the revaluation surplus to retained earnings.Assuming no further revaluations take place, what is the balance on the revaluation surplus at 30 June 20Y9?A$335,000B$310,000C$560,000D$585,000
You are given the following information：Receivables at 1 January 20X3 $10,000Receivables at 31 December 20X3 $9,000Total receipts during 20X3 (including cash sales of $5,000) $85,000What is the figure for sales on credit during 20X3?A$81,000B$86,000C$79,000D$84,000
The bank statement on 31 October 20X7 showed an overdraft of $800. On reconciling the bankstatement, it was discovered that a cheque drawn by your company for $80 had not been presented for payment, and that a cheque for $130 from a customer had been dishonoured on 30 October 20X7, but that this had not yet been notified to you by the bank.What is the correct bank balance to be shown in the statement of financial position at 31 October 20X7?A$1,010 overdrawnB$880 overdrawnC$750 overdrawnD$720 overdrawn
Six Co owns 80% of the equity share capital of Seven Co. At 31 December 20X4, the trade receivables and trade payables of the two companies were as follows：Six Co Seven CoTrade receivables $64,000 $39,000Trade payables $37,000 $48,000These figures include $30,000 that is owed by Seven Co to Six Co for the purchase of goods, for which Six Co has not yet paid. These goods were sold by Six Co for a profit of $15,000 and 50% of them were still held as inventory by Seven Co at 31 December 20X4.What should be the amounts for trade receivables and trade payables in the consolidated statement of financial position as at 31 December 20X4?ATrade receivables $73,000, Trade payables $55,000BTrade receivables $88,000, Trade payables $70,000CTrade receivables $95,000, Trade payables $77,000DTrade receivables $103,000, Trade payables $85,000
Which of the following transactions would result in an increase in capital employed?ASelling inventory at a profitB Writing off a bad debtCPaying a payable in cashDIncreasing the bank overdraft to purchase a non-current asset