快速查題-ACCA英國注冊會計師試題

A business has compiled the following information for the year ended

Opening inventory Purchases Closing inventory

The gross profit as a percentage of sales is always 40%

Based on these figures, what is the sales revenue for the year?

?Which of the following calculations could produce an acceptable figure for a trader's net profit for a period if no accounting

records had been kept?

?Which of the following material events after the reporting period and before the financial statements are approved by the

directors should be adjusted for in those financial statements?

1?A valuation of property providing evidence of impairment in value at the reporting period

2?Sale of inventory held at the end of the reporting period for less than cost

3?Discovery of fraud or error affecting the financial statements

4?The insolvency of a customer with a debt owing at the end of the reporting period which is still outstanding

The draft financial statements of a limited liability company are under consideration. The accounting treatment of the following material events after the reporting period needs to be determined.

1?The bankruptcy of a major customer, with a substantial debt outstanding at the end of the reporting period

2?A fire destroying some of the company's inventory (the company's going concern status is not affected)

3?An issue of shares to finance expansion

4?Sale for less than cost of some inventory held at the end of the reporting period

According to IAS 10 Events after the reporting period, which of the above events require an adjustment to the figures in the

draft financial statements?

Which one of the following would help a company with high gearing to reduce its gearing ratio?

A company's gross profit as a percentage of sales increased from 24% in the year ended 31 December 20X1 to 27% in the

year ended 31 December 20X2.

Which of the following events is most likely to have caused the increase?

Sales revenue should be recognised when goods and services have been supplied; costs are incurred when goods and

services have been received.Which accounting concept governs the above?

Which accounting concept states that omitting or misstating this information could influence users of the financial statements?

The inventory value for the financial statements of Global Co for the year ended 30 June 20X3 was based on a inventory

count on 7 July 20X3,

which gave a total inventory value of $950,000.Between 30 June and 7 July 20X6, the following transactions took place.

????????????????????????????????????????????????????????????????????? ?$

Purchase of goods???????????????????????????????????? ?11,750

Sale of goods (mark up on cost at 15%)???? 14,950

Goods returned by Global Co to supplier?? ?1,500

What figure should be included in the financial statements for inventories at 30 June 20X3?

Which of the following costs may be included when arriving at the cost of finished goods inventory for inclusion in the financial statements of a manufacturing company?

1 Carriage inwards

2 Carriage outwards

3 Depreciation of factory plant

4 Finished goods storage costs

5 Factory supervisors' wages