19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517,000. It was decided to write off debts totalling $37,000 and to adjust the allowan
A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority wi
In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.11 Which of the following statements are correct?10 What would the company’s profit become after the
Is the following statement true or false?15 What journal entry is required to record goods taken from inventory by the owner of a business?10 Which of the following costs should be included in valuing
19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517,000. It was decided to write off debts totalling $37,000 and to adjust the allowan
The following statements have been made about life cycle costing:25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?19 At 30 June 2004 a compa
19 What is the company’s return on shareholders’ equity?Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.18
12 At 1 July 2004 a company had prepaid insurance of $8,200. On 1 January 2005 the company paid $38,000 for15 What journal entry is required to record goods taken from inventory by the owner of a busi
18 Which of the following statements about accounting ratios and their interpretation are correct?15 Which of the following statements about intangible assets are correct?14 Alpha buys goods from Beta
A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The following possible reasons were stated for this:14 Alpha buys goods from
