The following information is available for a sole trader who keeps no accounting records: USD Net business assets at 1 July 2015 186,000 Net business assets at 30 June 2016 274,000 During the year ended 30 June 2016: Cash drawings by proprietor 68,000 Additional capital introduced by proprietor 50,000 Business cash used to buy a car for the proprietor’s wife, who takes no part in the business 20,000 Using this information, what is the trader’s profit for the year ended 30 June 2016?

1 .A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 November 2015: USD Trade receivables, 1 December 2014 130,000 Trade payables, 1 December 2014 60,000 Cash received from customers 686,400 Cash paid to suppliers 302,800 Discounts allowed 1,400 Discounts received 2,960 Irrecoverable debts 4,160 Amount due from a customer who is also a supplier offset against an amount due for goods supplied by him 2,000 Trade receivables, 30 November 2015 181,000 Trade payables, 30 November 2015 84,000 Based on the above information, what figure should appear in A’s statement of profit or loss for the year ended 30 November 2015 for purchases?

A USD283,760 B USD325,840 C USD329,760 D USD331,760

题型: 单选题 提问时间: 2021-08-24

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2 .A sole trader fixes her prices by adding 50% to the cost of all goods purchased. On 31 October 2015 a fire destroyed a considerable part of the inventory and all inventory records. Her statement of profit or loss for the year ended 31 October 2015 included the following figures: USD USD Sales 281,250 Opening inventory at cost 183,600 Purchases 249,200 ——— 432,800 Closing inventory at cost 204,600 228,200 ——— ——— Gross profit 53,050 ——— Using this information, what inventory loss has occurred?

A USD40,700 B USD61,050 C USD87,575 D USD110,850

题型: 单选题 提问时间: 2021-08-24

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3 .The following information is available for the year ended 31 December for a trader who does not keep proper accounting records: USD Opening inventories at 1 January 38,000 Closing inventories at 31 December 45,000 Purchases 637,000 Gross profit percentage on sales 30% Based on this information, what was the trader’s sales figure for the year?

A USD819,000 B USD900,000 C USD920,000 D USD837,200

题型: 单选题 提问时间: 2021-08-24

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4 .Wanda keeps no accounting records. The following information is available about her position and transactions for the year ended 31 December: USD Opening net assets at 1 January 210,000 Drawings during the year 48,000 Capital introduced during the year 100,000 Closing net assets at 31 December 400,000 Based on this information, what was Wanda’s profit for the year?

A USD42,000 B USD138,000 C USD242,000 D USD338,000

题型: 单选题 提问时间: 2021-08-24

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5 .A trader who fixes her prices by adding 50% to cost actually achieved a mark-up of 45%.Which of the following factors could account for the shortfall?

A Sales were lower than expected B Opening inventories had been overstated C Closing inventories were higher than opening inventories D Goods taken from inventories by the proprietor were recorded by debiting drawings and crediting purchases with the cost of the goods.

题型: 单选题 提问时间: 2021-08-24

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7 .Which of the following factors could cause a company’s gross profit percentage on sales to fall below the expected level?

A Overstatement of closing inventories B The incorrect inclusion in purchases of invoices relating to goods supplied in the following period C The inclusion in sales of the proceeds of sale of non-current assets D Reduction of overheads incurred in the production process

题型: 单选题 提问时间: 2021-08-24

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8 .The following information is available for Orset, a sole trader who does not keep full accounting records: USD Inventory 1 July 2015 138,600 30 June 2016 149,100 Sales for year ended 30 June 2016 1,008,000 Orset makes a standard gross profit margin of 30%.Based on these figures, what is Orset’s purchases figure for the year ended 30 June 2016?

A USD695,100 B USD705,600 C USD716,100 D USD785,885

题型: 单选题 提问时间: 2021-08-24

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9 .The following information is available about the transactions of Razil, a sole trader who does not keep proper accounting records: USD Opening inventory 77,000 Purchases 763,000 Sales 945,000 Mark up on cost 25% Based on this information, what should be the cost of Razil’s closing inventory?

A USD70,000 B USD84,000 C USD85,750 D USD131,250

题型: 单选题 提问时间: 2021-08-24

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10 .Plym is a retailer which is registered for sales tax which is at the rate of 20%. For the year to 30 June 2016 Plym paid USD69,600 to suppliers in respect of goods for resale and showed USD89,400 revenue in the statement of profit or loss. There was no change in the figures for inventory and trade payables in the statements of financial position as at 30 June 2015 and 2016.What was Plym’s gross profit for the year ended 30 June 2016?

A USD4,900 B USD16,500 C USD19,800 D USD31,400

题型: 单选题 提问时间: 2021-08-24

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