13 Which of the following correctly describes the imprest system for operating petty cash?14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.I
Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective is to maximise profit, the shadow price of material B is $2 per kg. The following state
19 What is the company’s return on shareholders’ equity?8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son R as a partner. P25 What should the minorit
17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later19 What is the company’s return on shareholders’ equity?14 Alpha buys goods from Beta. At
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
18 How should interest charged on partners’ drawings appear in partnership financial statements?In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.A com
Which of the following statements relating to internal and external auditors is correct?A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) an
Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
10 What would the company’s profit become after the correction of the above errors?24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority25 W
