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The following attempt at a bank reconciliation statement has been prepared by Q Co: $ 38,600Overdraft per bank statement

Add: deposits not credited 41,200 79,800Less: unpresented cheques 3,300Overdraft per cash book 76,500Assuming the bank statement balance of $38,600 to be correct, what should the cash book balance be?

A

$76,500 overdrawn, as stated

B

$5,900 overdrawn

C

$700 overdrawn

D

$800 overdrawn

After checking a business cash book against the bank statement, which of the following items could require an entry in

thecash book?

1 Bank charges

2 A cheque from a customer which was dishonoured

3 Cheque not presented

4 Deposits not credited

5 Credit transfer entered in bank statement

6 Standing order entered in bank statement.

A

1, 2, 5 and 6

B

3 and 4

C

1, 3, 4 and 6

D

3, 4, 5 and 6

The following bank reconciliation statement has been prepared for a company：

??????????????????????????????????????????????????????????????????????????????????? ? ?$

Overdraft per bank statement?????????????????????????????????? ??39,800

Add: Deposits credited after date??????????????????????????? ?? 64,100

????????????????????????????????????????????????????????????????????????????????? ?103,900

Less: Unpresented cheques presented after date??? ?44,200

Overdraft per cash book?????????????????????????????????????????? ??59,700

Assuming the amount of the overdraft per the bank statement of $39,800 is correct, what should be the balance in the cash

book?

A

$158,100 overdrawn

B

$19,900 overdrawn

C

$68,500 overdrawn

D

$59,700 overdrawn

Listed below are five potential causes of difference between a company's cash book balance and its bank statement balance

as at 30 November 20X3:

1?Cheques recorded and sent to suppliers before 30 November 20X3 but not yet presented for payment

2?An error by the bank in crediting to another customer's account a lodgement made by the company

3?Bank charges

4?Cheques paid in before 30 November 20X3 but not credited by the bank until 3 December 20X3

5?A cheque recorded and paid in before 30 November 20X3 but dishonoured by the bank

Which one of the following alternatives correctly analyses these items into those requiring an entry in the cash book and those that would feature in the bank reconciliation?

?Cash book entry???????????? ?Bank reconciliation

A

1, 2, 4?3, 5

B

3, 5?1,2,4

C

3, 4?1,2, 5

D

?2, 3, 5?1, 4

The bookkeeper of Peri made the following mistakes：Discount allowed $3,840 was credited to discounts received account.

Discount received $2,960 was debited to discountsallowed account. Discounts were otherwise correctly recorded.Which one

of the following journal entries will correct the errors?

Dr?? Cr

$???? $

A

Discount allowed 7,680?Discount received?5,920Suspense account??1,760

B

Discount allowed?880?Discount received?880? Suspense account1,760

C

Discount allowed 6,800?Discount received?6,800

D

Suspense account1,760? Discount allowed?880Discount received??880

The following are balances on the accounts of Luigi, a sole trader, as at the end of the current financial year and after all

entries have been processed and the profit for the year has been calculated



A

$59,000

B

$66,000

C

$62,000

D

$64,000

The following balances have been extracted from the nominal ledger accounts of Tanya,?for bank loan is unknown.?There are no other accounts in the main ledger

.Payables?$? 27,000

Capital?66,000

Purchases?160,000

Sales?300,000O

ther expenses?110,000

Receivables?33,000

Purchase returns?2,000

Non-current assets?120,000

Cash in bank?18,000

Bank loan?UnknownWhat is the credit balance on the bank loan account??

A

$46,000

B

$102,000

C

$78,000?

D

$34,000

The electricity account for Jingles Co for the year ended 30 June 20X1 was as follows.

????????????????????????????????????????????????????????????????????????????????????????? ? $

Opening balance for electricity accrued at 1 July 20X0????300

Payments made during the year

1 August 20X0 for three months to 31 July 20X0???????????? ?600

1 November 20X0 for three months to 31 October 20X0? 720

1 February 20X1 for three months to 31 January 20X1?? ? 900

30 June 20X1 for three months to 30 April 20X1????????????? ?840

Jingles Co expects the next bill due in September to be for the same amount as the bill received in June.

What are the appropriate amounts for electricity to be included in the financial statements of Jingles Co for the year ended 30 June 20X1?

Statement of??????????????????????? ?Statement? of

?financial position?????????????????? profit or loss

A

$560???????????????????? $3,320

B

$560???????????????? ?$3,060????

C

$860???????????????????? $3,060

D

$860????????????????????$3,320

材料全屏

Exam focus point. This question provides excellent practise of the knowledge and skills required to tackle long questions that may appear in Section B of the paper-based exam. However, the question is slightly longer, and the mark allocations lower,

than a typical 15 mark exam question. Use this question to practise the techniques required to score well in longer Section B

financial statement questions.



You have also been provided with the following information:

(a)?Inventory at 31 October 20X6 was valued at $275,000 based on its original cost. However, $45,000 of this inventory has been in the warehouse for over two years and the directors have agreed to sell it in November 20X6 for a cash price of $20,000.

(b)?The marketing expenses include $5,000 which relates to November 20X6.

(c)?The allowance for receivables is to be increased to the equivalent of 5% of trade receivables.

(d)?There are wages and salaries outstanding of $40,000 for the year ended 31 October 20X6.

(e)?Buildings are depreciated at 5% of cost. At 31 October 20X6 the buildings were professionally valued at $1,800,000 and

the directors wish this valuation to be incorporated into the financial statements.

(f)?Depreciation is to be charged as follows:

(i)?Motor vehicles at 20% of carrying amount

(ii)?Furniture and equipment at 20% of cost

(g)?No dividends have been paid or declared.

(h)?Tax of $150,000 is to be provided for the year.

(i)?During October 20X6 a bonus issue of one for ten shares was made to ordinary shareholders. This has not been entered

into the books. The share premium account was used for this purpose.

51

【簡答題】

The statement of profit or loss for the year ended 31 October 20X6

?The statement of financial position as at 31 October 20X6