A company purchases all goods on credit.　The following payables ledger control account contains some errors:What should the closing balance be when the errors have been corrected?

1 .At 1 January 2011 a company had an allowance for receivables of USD18,000.　At 31 December 2011 the company’s trade receivables were USD458,000.　It was decided:(1)　　　To write off debts totalling USD28,000 as irrecoverable;(2)　　　To adjust the allowance for receivables to the equivalent of 5% of the remaining receivables based on past experience.What figure should appear in the company’s profit or loss for the total of debts written off as irrecoverable and the movement in the allowance for receivables for the year ended 31 December 2011?

A USD　31,500 B USD　32,900 C USD　49,500 D USD　50,900

题型: 单选题 提问时间: 2021-08-22

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3 .At 30 September 2011 the closing inventory of a company amounted to USD386,400.　The following items were included in this total at cost:(1)　　1,000 items which had cost USD18 each.　These items were all sold in October 2011 for USD15 each, with selling expenses of USD800.(2)　　Five items which had been in inventory since 1974, when they were purchased for USD100 each, sold in October 2011 for USD1,000 each, net of selling expenses.What figure should appear in the company’s statement of financial position at 30 September 2011 for inventory?

A USD　382,600 B USD　384,200 C USD　387,100 D USD　400,600

题型: 单选题 提问时间: 2021-08-22

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4 .The inventory value for the financial statements of Q for the year ended 31 December 2011 was based on an inventory count on 4 January 2012, which gave a total inventory value of USD836,200.Between 31 December and 4 January 2012, the following transactions took place:What adjusted figure should be included in the financial statements for inventories at 31 December 2011?

A USD　818,500 B USD　834,300 C USD　838,100 D USD　853,900

题型: 单选题 提问时间: 2021-08-22

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5 .A business had an opening inventory of USD180,000 and a closing inventory of USD220,000 in its financial statements for the year ended 31 December 2011.Which of the following entries for these opening and closing inventory figures are made when completing the financial records of the business? 　　　　　　　　　　　　　　　　　　　　　　　　Debit　　　Credit　　　　　　　　　　　　　　　　　　　　　　　USD　　　　　USD　

A B C D

题型: 单选题 提问时间: 2021-08-22

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6 .The following control account has been prepared by a trainee accountant:What should the closing balance be when all the errors made in preparing the receivables ledger control account have been corrected?

A USD　395,200 B USD　304,300 C USD　307,100 D USD　309,500

题型: 单选题 提问时间: 2021-08-22

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7 .Which of the following correctly describes the imprest system of operating petty cash?

A The petty cash float is replenished by regular periodic transfers of equal amount. B The petty cash float is replenished by periodic transfers of the actual expenditure in the period. C All expenses must be supported by a properly authorised voucher. D Petty cash is operated outside the business d...

题型: 单选题 提问时间: 2021-08-22

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