Câu 1: Vargo plc is finalising its financial statements as at 30 June 20X4.

In its initial trail balance at that date

The tax payable balance that will appear in Vargo plc’s statement of financial position as at 30 June 20X4 is

A. 36.300

B. 35.450

C. 29.320

D. 34.600

Câu 2: At June 20X4 a company’s allowance for receivable was 39.000. At 30 June 20X5 trade receivable
totalled $517.000 It was decided to write off totalling $37.000 The allowance for receivable was to be
adjusted to the equivalent of 5 per cent of the trade receivables.

What figure should appear in the statement of profit or loss for these term ?

A. 22.000 (Act)

B. 23.**0

C. 24.000

D. **.000

Câu 3: XYX Co’s none-current assets had carrying amounts of $268.400 and $485.000 at the beginning and
end of the year respectively. Depreciation for the year was $48.600. Assets originally costing $35.000 with a
carrying amount of $18.100 were sold in the year for $ 13.000 (19.000)

What were the additions to non-current assets in the year ?

A. 200.200

B. 49.900

C. 180.200

D. 183.800 (Act)

Câu 4: Bill, a sole trader from Haringey has the following information:

Opening capital $ 22.000

Capital introduced $ 10.000

Cash taken for personal use $5.000

Closing capital $36.000

A. $34.000

B. $29.000 (Act)

C. $30.800

D. $24.000

Câu 5: A business statement of profit or loss for the year ended 31 Dec 20X4 showed a net profit of
$101.400 It was later found that $20.000 paid for the purchase of a motor van on 1 Jan 20X4 had been
debited to the motor expenses account. It is the company’s policy to depreciate motor vans at 25% per
year.

What would the net profit be after adjusting for this error ?

A. 121.400

B. 86.400

C. 116.400 (Act)

D. 96.400

Câu 6: The profit made by a business in 20X7 was $35.400 The proprietor injected new capital of $10.200
during the year and withdrew a monthly salary of $300.

If net assets at the end of 20X7 were $95.100 what was the proprietor’s capital at the beginning of the
year ?

A. 50.000

B. 55.500 (Act)

C. 63.900

D. 134.700

Câu 7: The opening balance in Derek’s 20X7 account for Motor Vehicle was $80.000 The accumulated
depreciation account had an opening balance of $38.000

A car which was bought in 20X5 for $25.000 was traded in during the year for a new car which would have
cost $44.000 but an allowance of 10.000 was given for the old car.

The company’s depreciation policy is to charge 20% on cost at the year end. A full year’ s depreciation is
charged in the year of acquisition and none in the year of disposal.

Calculate the deprecation charge for 20X7

A. 19.800 (Act)
 B. 23.800

C. 17.800

D. 12.200

Câu 8: Picasso Ltd sell digital cameras and has a year-end date of 30 November 20X8. Picasso accepted an
order for 50 digital cameras on 27 November at a selling price of $200 each. Picasso dispatched 20 cameras
on 28 November , which were then received by the customer on 30 November. The remaining 30 cameras
were dispatched on the 29 November and received by the customer on the 2 December. Picasso Ltd
remains responsible for the good until they are delivered to the customer.

How much revenues should Picasso Ltd recognise in the year ended 30 November 20X8 for the sale of
digital cameras ?

A. 6.000

B. Null

C. 4.000 (Act)

D. 10.000

Câu 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 the year of
acquisition and disposal.

Plant and machinery cost

20X5 20X5

1 Jan Balance b/d............280.000 30 June Trasfer disposal..........14.000

1 Apr Cash.......................48.000

1 Sept Cash......................36.000 31 Dec Balance c/d

364.000

What should be the depreciation charge for the year ended 31 December 20X5 ?

A. 70.000

B. 64.200 (Act)

C. 68.000

D. 67.000

Câu 10: A company compiled the following financial information as of December 31,2012:
Revenue $420.000

Equity share $90.000

Equipment $120.000

Expense $375.000

Cash $105.000

Dividends $30.000

Suppliers $15.000

Account payable $60.000

Account receivable $45.000

Retaining earning 1/1/12 $225.000

Assets on December 31, 2012 are:

A. 705.000

B. 510.000

C. 240.000

D. 285.000

Câu 11. At 30 Sep 20X7 a company has receivable totalling $128.000 and a specific allowance for receivable
of $4.800 brought forward from the previous year.

It has been decided to write off receivable totaling $10.500 and to adjust the allowance for receivable to
$3.000

The net receivable in the statement of financial position as at the year end of 30 Sep 20X7 will be:

A. 141.500

B. 135.500

C. 114.500

D. 120.500

Câu 12.
The ledger account balance for trade payables was omitted in error. When this is included, the total of the
trial balance will agree. What was the balance on the trade payable account ?

Câu 13. Marie’s draft account show a loss of $25.000 for the year. Upon investigation, you discover the
following:

1.A purchase of plant and equipment on the last day of the year costing $3.000 had had incorrectly
recorded as a repair expense.

2.Cash of $800 received in respect of a debt written off last year had been credited to receivables.

3.Closing inventory includes items costing $2000 which were sold and delivered to the customer on the year
end date.

What is the adjusted loss for the year ?

A.26.800

B.30.800

C.25.200

D.23.200

25 + 3 -0.8 - 2

Câu 14, Brooker paid $130,000 to trade payables during the year end 31 Dec 20X5

At the beginning of the year payables totalled $11,750 and at the end they totalled $13,550. The value of
closing inventory wax $8,200. Cash purchases were$2,800. The cost of sales for the year was $148,000
What was the value of opening inventory?

Select one:

A. $18,800 ( act)

B. $25,200

C. $21,600

D. $24,400

Cost of sale (148) = Opening Inventory + Purchase(2.8+ 130 + (13.55-11.75)) + Carriage Inward(None)–
Closing inventory(8.2)

Cau 15, The issued share capital of Maelstrom Co is as follows:

Ordinary share of 10c each $1,000,000

8% preferred shares of 50c each( redeemable) $500,000

In the year ended 31 Oct 20X2, the company has paid the preferred dividend for the year and an intern
divided of 2c per share on the ordinary shares. A final ordinary divided of 3c per share is declared on 30 Oct
20X2. What is the total amount of dividends recognised in the financial statements relating to the year
ended

A, $580,000

B, $90,000

C,$500,000 ( act)

D,$ 130,000

Cau 16, Alan has a year end receivables balance of $ 860,000 after writing off irrecoverable debts in the year
of $46,000. At the year wants to make a specific allowance against a debt of $60,000. There was an opening
allowance balance of &10,000

What is the total charge in the Statement of PL for irrecoverable debts

A, 136,000

B,149,000

C, 146,000

D, 96,000

Cau 17, At 30 June 20X6 Ollie plc’s equity contained the following balances:

Share capital
Ordinary shares of $1 each 80m

Share premium account 40m

During the year ended 30 June 20X7, the following transactions took place:

1 Sep 20X6 A 1 for 2 bonus issue, using the share premium account

1 Jan 20X7 A fully subscribed 1 for 3 rights issue at 1 $1,80 per share

What are the balances on each account at 30 June 20X7?

A, Share capital : 192,000,000, Share premium account 72,000,000

B, Share capital :160,000,000, Share premium account 32,000,000 ( act)

C, Share capital : 160,000,000, Share premium account 72,000,000

D, Share capital : 192,000,000, Share premium account 32,000,000

Cau 18, On 1 Jan 20X4 a company receives news that a major customer has been declared bankrupt. The
amount he owed was $25.000 and this had been allowed for as doubtful at 31 Oct 20X3, the end of the
previous reporting period.

Also on 1 Jan 20X4 a company receives $12,000 from another customer whose debt was written off the
previous period as they had left the country and were not expected to return

What entries are required as at 1 Jan 20X4?

A, Debit allowance for receivables 13,000. Credit Irrecoverable debts written off 13,000

B, Debit allowance for receivables 25,000. Credit Receivables account 13,000

C, Debit Irrecoverable debts written off 13,000. Credit Receivables account 25,000 (act)

D, Debit Irrecoverable debts written off 25,000. Credit allowance for receivables 25,00