This website uses cookies to ensure you have the best experience. Learn more

Question Paper

556 words - 3 pages

Chapterwise Test
Topic : Final Account (Sole Trader & manufacturing Account)
Time :1.30 hours Total Marks : 50
1. Adonnis Boxos makes televisions. Figures, except for sales, are available for the year ended 31 March 2006.
| | ₤ |
Sales | | ? |
Stocks at 1 April 2005: | Raw materials | 500 |
| Finished goods | 2400 |
| Work in progress | 800 |
Office equipment | | 4000 |
Vehicle running expenses | | 6520 |
Selling and administration expenses | | 12100 |
Manufacturing wages | | 80000 |
Indirect factory expenses | | 6000 |
Purchase of raw materials | | 200000 |
Plant and machinery | | 60000 |
Vehicles (used only to deliver finished goods) | | 10000 |
Returns outward | | 100 |
Carriage on sales | | 600 |
Additional information :
* Stocks at 31 March 2006 were: raw materials ₤ 400; finished goods ₤ 3500; work in progress ₤ 200.
* Depreciation for the ...view middle of the document...

Note: in preparing your answer to (a) and (b) you must select relevant items. Not all of the items in the list of figures
above are required.

Define the following terms (10)
Prime Cost ,Work in Progress, Fixed Cost, Variable Cost, Semi –fixed cost.

2. Curly Kale owns and runs a greengrocer’s shop. On 31 March 2009, she extracted the following trial balance from her books.
| Dr | Cr |
| £ | £ |
Administration expenses | 3122 | |
Bad debts | 340 | |
Bank | | 500 |
Capital | | 40000 |
Carriage inwards | 1200 | |
Carriage outwards | 8175 | |
Cash | 147 | |
Debtors and Creditors | 1800 | 4674 |
Drawings | 44000 | |
Equipment at cost | 2600 | |
Fixtures and fittings at cost | 3200 | |
Income from delivery charges | | 10500 |
Insurance | 625 | |
Motor van at cost | 8400 | |
Provision for depreciation on fixtures and fittings at 1 April 2008 | | 1200 |
Provision for depreciation on motor van at 1 April 2008 | | 1680 |
Purchases | 444760 | |
Rent and rates | 7900 | |
Returns | 621 | 846 |
Sales | | 516280 |
Stock at 1 April 2008 | 36190 | |
Wages | 12600 | |
| 575680 | 575680 |
Additional information:
* The stock on 31 March 2009 was valued at £ 27380.
* Since the trial balance was prepared, a debt of £ 30, which had been written off as bad, has been paid in cash to Curly by the debtor. No record of this has been made in the books.
* £ 50 of the insurance paid is for the year ended 31 March 2010.
* £ 400 was owing in wages to the shop assistant on 31 March 2009.
* A provision for doubtful debts is to be created equivalent to 2.5% of the debtors.
* The fixed assets are to be depreciated as follows
(i) Motor van: 10% on cost;
(ii) Fixtures and fittings: 30% on the reducing balance method;
(iii) Equipment: £ 1600 is to be deducted from the figure in the trial balance.
From the information provided:
(a) Prepare the trading account and profit and loss account for the year ended 31 March 2009 (12)
(b) Prepare the balance sheet at 31 March 2009; (13)

1. May2006-q-4.
2. May2009-q-2.

Other Papers Like Question Paper

Test Question Essay

878 words - 4 pages 1: * Use short responses, in complete sentences with proper grammar and spelling * Length of response should be between 2 to 3 sentences per question. | Answer:Type your answer here | Question 2: Holly Valez called Dr. Moodey’s office on Monday morning to see when the paper work to release John to go back to work would be completed. Can Sally tell Holly when the forms will be ready to pick up? Explain briefly why or why not. | 10

Pico Question Essay

884 words - 4 pages associate with pelvic inflammatory disease, ectopic pregnancy, and carcinomas of cervix. The was the only paper that showed a measure of prevalence, first included, then the researcher extracted valid information from interest and transferred the information to a graphic table. The graphic table consisted gathering combination of individual information with risk similarities in frequency douching, risk of pelvic inflammatory disease and cervical

Cgi Question and Answer

4241 words - 17 pages happens. 1.S was happened means?? a)p was happened? b)p was not happened?? c) r was happened?? d) nothing can be said certanily about PQR 2. S was not happened means?? a)p was happened? b)p was not happened?? c) r was happened?? d) nothing can be said certanily about PQR **************************************** Provided by - CGI Placement Paper Aptitude Question Paper 20 August 2012 Aptitude Questions 1. A sum of Rs

Question On Happiness

8033 words - 33 pages , Utilitarianism in particular; and (3) Current Quality-of-Life research in the rich welfare states. Printed reflections on all this contemplation now fill a hundred meters of bookshelves. This paper takes stock of the progress made on seven classical topics. Are we now any wiser? Or is Dodge (1930) right in his contention that “the theory of the happy life has remained on about the same level that the ancient Greeks left it”? This inventory will differ


1003 words - 5 pages bercetak kursus ini. / This assignment contains only ONE (1) question that is set in the language of the printed module for the course. 2. Jawab dalam Bahasa Melayu atau Bahasa Inggeris. / Answer in Malay or English. 3. Muatturunkan templet tugasan versi bahasa yang berkenaan daripada MyVLE untuk penyediaan dan penyerahan tugasan anda. Tugasan anda hendaklah ditaip dengan menggunakan saiz fon 12 Times New Roman dan langkau baris 1.5


304 words - 2 pages 1. Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company's quarterly statements for three months ended July 31, 1986. How does a review differ from an audit particularly in terms of the level of assurance implied by auditor's report? 2. SAS No. 106 "Audit Evidence," identifies the principal "management assertions" that underlie a set of financial statements. The

The Question of Scientific Determinism

1453 words - 6 pages Religious views The question of scientific determinism gave rise to questions about Einstein's position on theological determinism, and whether or not he believed in a God. In 1929, Einstein told Rabbi Herbert S. Goldstein "I believe in Spinoza's God, who reveals Himself in the lawful harmony of the world, not in a God Who concerns Himself with the fate and the doings of mankind."[54] In a 1950 letter to M. Berkowitz, Einstein stated that "My

Fin 571 Final Exam Latest Question Answers

1833 words - 8 pages Choice Question 46 External financing needed: Jockey Company has total assets worth $4,417,665. At year-end it will have net income of $2,771,342 and pay out 60 percent as dividends. If the firm wants no external financing, what is the growth rate it can support? • 30.3% • 25.1% • 27.3% • 32.9% To download the complete paper click FIN 571 Complete course Multiple Choice Question 86 Multiple Analysis: Turnbull Corp. had an EBIT of

Bahamas Women's Suffrage Movement Bgcse Question

1230 words - 5 pages BGCSE History Coursework | Paper 3 | Bradley Wright | BGCSE History Coursework | Paper 3 | Bradley Wright | Question 1: (a) Study source A. What role did the Womens’ Suffrage Movement play during the ‘Quiet Revolution’ in The Bahamas? (7 points) “No nation can rise to the height of glory unless your women are side by side with you. We are victims of evil customs. It is a crime against humanity that our women are shut up

QNT 561 Final Exam Question With Answers

1920 words - 8 pages d) not related 4. A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. What is the dependent variable? a) sales managers b) amount of sales dollars c) salesperson d) number of contacts Complete paper here QNT 561 Complete Course 5. Which of the following is most appropriately displayed with a frequency table

Chapter 6 Essay Question Ron and Lois

1068 words - 5 pages Chapter 6 Essay Question In the case of Ron and Lois, they are both department managers with Litwins department store. Lois is the manager of housewares department and Don is the manager of the shoe department. Ron has observed Lois taking inventory from her own department home, apparently without paying for it. He hesitates confronting Lois because he is due to be promoted, and needs Lois' recommendation. He also does not want to notify the

Related Essays

Question Paper

1614 words - 7 pages Examination Paper of Financial Management IIBM Institute of Business Management Examination Paper MM.100 Financial Management Subject Code-B-103 Section A: Objective Type & Short Questions (30 marks)      This section consists of multiple choice & Short Notes.  Answer all the questions.  Part One carries 1 mark each & Part two carries 5 marks each. Part one: Multiple choices: 1. The approach focused mainly on the

Biology Question Paper 1. Oct Nov 2012

2559 words - 11 pages correction fluid. Write your name, Centre number and candidate number on the Answer Sheet in the spaces provided unless this has been done for you. There are forty questions on this paper. Answer all questions. For each question there are four possible answers A, B, C and D. Choose the one you consider correct and record your choice in soft pencil on the separate Answer Sheet. Read the instructions on the Answer Sheet very carefully. Each correct

Question Paper

1944 words - 8 pages Section A: Short Answer Questions (total 15 marks) Answer all SIX (6) of the following questions (see individual questions for mark and word allocations). Question 1A. Select ONE concept in the theory of organisational culture and discuss how it informs what went wrong at Enron, as explained by Sherron Watkins in the Beenan and Pinto (2009) article (see Moodle). Do not simply describe the concept; the emphasis should be on discussion and

Read The Scenario Below, And Then In A Short Paper (1 2 Pages, Typed, 12 Point Font, 1’’ Margins) Discuss And Answer The Following Question Thoroughly And Thoughtfully, Applying Class Concepts When...

630 words - 3 pages Cross-Cultural psychology GE261 Assignment 2 Kwan Adams Read the scenario below, and then in a short paper (1-2 pages, typed, 12 point font, 1’’ margins) discuss and answer the following question thoroughly and thoughtfully, applying class concepts when possible: 1- What values of childrearing are represented by Lynn’s parenting of her son? (In other words, what parenting practices are considered acceptable in her culture and why? What