A company’s policy as regards depreciation of its plant and machinery is to charge depreciation at 20% per year on cost, with proportional depreciation for items purchased or sold during a year.The company’s plant and machinery at cost account for the year ended 30 September 2015 is shown below: Plant and machinery – cost 2014 USD USD 1 Oct Balance (all plant purchased after 2011) 200,000 2015 2015 1 Apr Cash-purchase of plant 50,000 30 Jun Transfer disposal account 40,000 30 Sept Balance 210,000 ——— ——— 250,000 250,000 ——— ——— What should be the depreciation charge for plant and machinery (excluding any profit or loss on the disposal) for the year ended 30 September 2015?

1 .A company has sublet part of its offices and in the year ended 30 November 2015 the rent receivable was: Until 30 June 2015 USD8,400 per year From 1 July 2015 USD12,000 per year Rent was paid quarterly in advance on 1 January, April, July, and October each year.What amounts should appear in the company’s financial statements for the year ended 30 November 2015?

A Statement of profit or loss: USD9,900; Statement of financial position: USD2,000 in sundry payables B Statement of profit or loss: USD9,900; Statement of financial position: USD1,000 in sundry payables C Statement of profit or loss: USD10,200; Statement of financial position: USD1,000 in sundry pa...

题型: 单选题 提问时间: 2021-08-24

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2 .Beek receives rent for subletting part of its office premises to a number of tenants. In the year ended 31 December 2015 Beek received cash of USD318,600 from its tenants.Details of rent in advance and in arrears at the beginning and end of 2015 are as follows: 31 December 2015 31 December 2014 USD USD Rent received in advance 28,400 24,600 Rent owing by tenants 18,300 16,900All rent owing was subsequently received.What figure for rental income should be included in Beek’s profit or loss for 2015?

A USD341,000 B USD336,400 C USD316,200 D USD300,800

题型: 单选题 提问时间: 2021-08-24

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3 .A company sublets part of its office accommodation. In the year ended 30 June 2015 cash received from tenants was USD83,700. Details of rent in arrears and in advance at the beginning and end of the year were: In arrears In advance USD USD 30 June 2014 3,800 2,400 30 June 2015 4,700 3,000 All arrears of rent were subsequently received.What figure for rental income should be included in the company’s profit or loss for the year ended 30 June 2015?

A USD80,600 B USD83,400 C USD84,000 D USD85,800

题型: 单选题 提问时间: 2021-08-24

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4 .Brindal acquired five apartments on 1 June 2014 and immediately rented them out to different tenants. Brindal has a credit balance on its rent receivable account in the trial balance extracted as at 31 May 2015 of USD22,850. The bookkeeper has calculated that rents in arrears as at 31 May 2015 amounted to USD4,490 and rents in advance at the same date amounted to USD7,720.What was Brindal’s rental income for the year ended 31 May 2015?

A USD19,620 B USD22,850 C USD26,080 D USD37,340

题型: 单选题 提问时间: 2021-08-24

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5 .A business purchased a motor car on 1 July 2015 for USD20,000. It is to be depreciated at 20%per year on the straight line basis, assuming a residual value at the end of five years of USD4,000, with a proportionate depreciation charge in the year of purchase.The USD20,000 cost was correctly entered in the cash book but posted to the debit of the motor vehicles repairs account.How will the business profit for the year ending 31 December 2015 be affected by the error?

A Understated by USD18,400 B Understated by USD16,800 C Understated by USD18,000 D Overstated by USD18,400

题型: 单选题 提问时间: 2021-08-24

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7 .The plant and machinery at cost account of a business for the year ended 30 June 2015 was as follows: Plant and machinery – cost 2014 USD 2014 USD 1 July Balance 240,000 30 Sept. Transfer disposal account 60,000 2015 2015 1 Jan Cash-purchase of plant 160,000 30 Jun Balance 340,000 ——— ——— 400,000 400,000 ——— ——— The company’s policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in the years of purchase and disposal.What should be the depreciation charge for the year ended 30 June 2015?

A USD68,000 B USD64,000 C USD61,000 D USD55,000

题型: 单选题 提问时间: 2021-08-24

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8 .A business’s statement of profit or loss for the year ended 31 December showed a profit of USD83,600. It was later found that USD18,000 paid for the purchase of a motor van had been debited to motor expenses account. It is the company’s policy to depreciate motor vans at 25% per year, with a full year’s charge in the year of acquisition.What would the profit be after adjusting for this error?

A USD70,100 B USD97,100 C USD101,600 D USD106,100

题型: 单选题 提问时间: 2021-08-24

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9 .The plant and machinery cost account of a company is shown below. The company’s policy is to charge depreciation at 20% on the straight line basis, with proportionate depreciation in years of acquisition and disposal. Plant and machinery – cost 2015 USD 2015 USD 1 Jan Balance 280,000 30 June Transfer disposal 14,000 1 Apr Cash 48,000 31 Dec Balance 350,000 1 Sept Cash 36,000 ——— ——— 364,000 364,000 ——— ——— What should be the depreciation charge for the year ended 31 December 2015?

A USD64,200 B USD67,000 C USD68,600 D USD70,000

题型: 单选题 提问时间: 2021-08-24

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10 .Sam’s statement of profit or loss for the year ended 31 December 2015 showed a profit of USD83,600. It was later found that USD18,000 paid for the purchase of a motor vehicle on 1 January 2015 had been debited to motor expenses account. It is the company’s policy to depreciate motor vehicles at 25% per year.What is Sam’s profit for the year after adjusting for this error?

A USD70,100 B USD97,100 C USD101,600 D USD106,100

题型: 单选题 提问时间: 2021-08-24

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