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单选题 282 The profit of a business may be calculated using which of the following formulae?( )
学科：FA（财务会计）
时间：2023-12-27 08:48:32
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题目1单选题
277 Shakur had net assets of $19,000 at 30 April 20X7. During the year to 30 April 20X7, Shakur introduced $9,800 additional capital into the business and the profit for the year was $8,000. During the year ended 30 April 20X7 Shakur withdrew $4,200.What was the balance on Shakur's capital account at 1 May 20X6?( )A. $5,400B. $13,000C. $16,600D. $32,600
题目2单选题
278 The following information relates to Minnie's hairdressing business in the year ended 31 August 20X7:Expenses $ 7,100Opening inventory $1,500Closing inventory $ 900Purchases $ 12,950Gross profit $ 12,125Inventory drawings of shampoo $ 75What was the value of sales revenue of the business for the year ended 31 August 20X7?( )A. $32,700B. $25,600C. $25,675D. $25,750
题目3单选题
279 Astral Co has a debit balance relating to income tax of $500 included in its trial balance extracted on 30 June 20X4. Astral Co estimated that its income tax liability for the year ended30 June 20X4 was $8,000.What amounts should be included in Astral Co's financial statements for the year ended 30 June 20X4?( )A. Statement of profit or loss:$8,000; Statement of financial position:$8,000B. Statement of profit or loss:$8,500; Statement of financial position:$8,00C. Statement of profit or loss:$7,500; Statement of financial position:$8,500D. Statement of profit or loss:$8,000; Statement of financial position:$7,500
题目4单选题
280 Which of the following would change the capital of a business? ( )A. Making a payment by cheque to a supplierB. Purchasing raw materials on creditC. Purchasing non-current assets on creditD. Paying wages in cash
题目5单选题
281 A draft statement of financial position has been prepared for Lollipop, a sole trader. It is nowdiscovered that a loan due for repayment by Lollipop 14 months after the reporting date has been included in trade payables.What will be the effect of the necessary adjustment?( )A. No effect on net current assetsB. Increase net current assetsC. Reduce net current assetsD. Increase current assets but reduce net current assets
题目6单选题
282 The profit of a business may be calculated using which of the following formulae?( )A. Opening capital - drawings + capital introduced - closing capitalB. Closing capital + drawings - capital introduced - opening capitalC. Opening capital + drawings - capital introduced -closing capitalD. Closing capital - drawings + capital introduced - opening capital
题目7单选题
283 Which accounting concept requires that amounts of goods taken from inventory by the proprietor of a business are treated as drawings?( )A. AccrualsB. PrudenceC. Separate entityD. Substance over form
题目8单选题
285 The following transactions relate to Max's business:1 May Purchase of goods for resale on credit $3002 May Max injects long term capital into the business $1,4003 May Payment of rent made $7505 May Max withdraws cash from the business $4007 May Goods which had cost $600 were sold on credit 1,200At the start of the week, the assets of the business were $15,700 and liabilities amounted to$11,200.At the end of the week, what was the amount of Max's capital? ( )A. $5,350B. $1,400C. $850D. $1,000
题目9单选题
289 On 1 January 20X8 Hendrix Co revalued its property to $200,000. Up to the date of the revaluation, the asset had been accounted for at a cost of $160,000, and had accumulated depreciation $40,000. The property had a useful life of 50 years from the date of purchase and no residual value.What are the accounting entries required to record the property revaluation in the accounting records?( )A. Debit:Non-current asset - property$200,000 Credit:Revaluation surplus $200,000B. Debit:Revaluation surplus $80,000 Credit:Non-current asset - property $40,000Accumulated depreciation $40,000C. Debit:Non-current asset - property$40,000 Credit:Revaluation surplus $40,000D. Debit:Non-current asset - property$40,000 Accumulated depreciation $40,000 Credit:Revaluation surplus $80,000
题目10单选题
Opening inventory $12,500Closing inventory $ 17,900Purchases $199,000Distribution costs $35,600Administrative expenses $78,800Audit fee $15,200Carriage in $3,500Carriage out $ 7,700Depreciation $ 40,000Depreciation is to be split in the ratio 70:30 between the factory and the office.All office expenses are classified as administrative expenses.Based upon the available information, what was Wimbledon's cost of sales?( )A. $233,600B. $221,600C. $225,100D. $237,100
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