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
24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 t
In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.19 What is the company’s return on shareholders’ equity?A corporate taxpayer has under-reported its t
Which of the following statements relating to internal and external auditors is correct?17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterT
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
14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitte
13 Which of the following correctly describes the imprest system for operating petty cash?Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual fra
15 Which of the following statements about intangible assets are correct?14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.25 What should the
9 Which of the following items must be disclosed in a company’s published financial statements (including notes)In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two mont
In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where th
The following information is relevant for questions 9 and 1013 Which of the following correctly describes the imprest system for operating petty cash?10 What would the company’s profit become after th
18 Which of the following statements about accounting ratios and their interpretation are correct?25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 Decembe
25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid val
The following information is available for a manufacturing company which produces multiple products:Is the following statement true or false?25 What should the minority interest figure be in the group
6 Ordan received a statement from one of its suppliers, Alta, showing a balance due of $3,980. The amount due16 Which of the following statements about accounting concepts and conventions are correct?
