The following information is relevant for questions 20.4 and 20.5.A is a sole tr-新东方在线职业题库

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The following information is relevant for questions 20.4 and 20.5.

A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit

customers and suppliers for the year ended 30 November 20X3.

$

Trade receivables, 1 December 20X2 130,000

Trade payables, 1 December 20X2 60,000

Cash received from customers 686,400

Cash paid to suppliers 302,800

Discounts allowed 1,400

Discounts received 2,960

Irrecoverable debts 4,160

Amount due from a customer who is also a supplier offset against an amount due

for goods supplied by him 2,000

Trade receivables, 30 November 20X3 181,000

Trade payables, 30 November 20X3 84,000

Based on the above information, what figure should appear in A's statement of profit or loss for the year ended 30

November 20X3 for sales revenue?

A

$748,960

B

$748,800

C

$744,960

D

$743,560

Chapter17Incompleterecords

$ $

Opening balance 130,000 Cash received 686,400

Sales (balancing figure) 744,960 Discounts allowed 1,400

Irrecoverable debts 4,160

Contra 2,000

Closing balance 181,000

874,960 874,960

多做几道

Which of the following is a ratio which is used to measure how much a business owes in relation to its size?

A

Asset turnover

B

Profit margin

C

Gearing

D

Return on capital employed

A business operates on a gross profit margin of 331/3%. were $680. Gross profit on a sale was $800, and expenses

What is the net profit margin?

A

3.75%

B

5%

C

11.25%

D

22.67%

A company has the following details extracted from its statement of financial position：

$'000

Inventories 1,900

Receivables 1,000

Bank overdraft 100

Payables 1,000

The industry the company operates in has a current ratio norm of 1.8. Companies who manage liquidity well in this industry

have a current ratio lower than the norm.

Which of the following statements accurately describes the company’s liquidity position?

A

Liquidity appears to be well managed as the bank overdraft is relatively low

B

Liquidity appears to be poorly-controlled as shown by the large payables balance

C

Liquidity appears to be poorly-controlled as shown by the company’s relatively high current ratio

D

Liquidity appears to be poorly-controlled as shown by the existence of a bank

Why is analysis of financial statements carried out?

A

So that the analyst can determine a company’s accounting policies

B

So that the significance of financial statements can be better understood through comparisons

with historical performance and with other companies

C

To get back to the ‘real’ underlying figures, without the numbers being skewed by the

requirements of International Financial Reporting Standards

D

To produce a report that can replace the financial statements, so that the financial statements

no longer need to be looked at

Which of the following transactions would result in an increase in capital employed?

A

Selling inventory at a profit

B

Writing off a bad debt

C

Paying a payable in cash

D

Increasing the bank overdraft to purchase a non-current asset

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