24 Sigma’s bank statement shows an overdrawn balance of $38,600 at 30 June 2005. A check against the company’s cash book revealed the following differences:1 Bank charges of $200 have not been entered in the cash book.2 Lodgements recorded on 30 June 2005

题目

24 Sigma’s bank statement shows an overdrawn balance of $38,600 at 30 June 2005. A check against the company’s cash book revealed the following differences:

1 Bank charges of $200 have not been entered in the cash book.

2 Lodgements recorded on 30 June 2005 but credited by the bank on 2 July $14,700.

3 Cheque payments entered in cash book but not presented for payment at 30 June 2005 $27,800.

4 A cheque payment to a supplier of $4,200 charged to the account in June 2005 recorded in the cash book as a receipt.

Based on this information, what was the cash book balance BEFORE any adjustments?

A $43,100 overdrawn

B $16,900 overdrawn

C $60,300 overdrawn

D $34,100 overdrawn

更多“24 Sigma’s bank statement shows an overdrawn balance of $38,600 at 30 June 2005. A check against the company’s cash book revealed the following differences:1 Bank charges of $200 have not been entered in the cash book.2 Lodgements recorded on 30 June 2005”相关问题

第1题

17 A company sublets part of its office accommodation. In the year ended 30 June 2005 cash received from tenantswas $83,700.Details of rent in arrears and in advance at the beginning and end of the year were:In arrears In advance$ $30 June 2004 3,800 2,40030 June 2005 4,700 3,000All arrears of rent were subsequently received.What figure for rental income should be included in the company’s income statement for the year ended 30 June2005?A $84,000B $83,400C $80,600D $85,800

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第2题

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 allowance for receivables to the equivalent of 5 per cent of the trade receivables based on past events.What figure should appear in the income statement for these items?A $61,000B $22,000C $24,000D $23,850

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第3题

23 The capital structure of a company at 30 June 2005 is as follows:$mOrdinary share capital 100Share premium account 40Retained earnings 6010% Loan notes 40The company’s income statement for the year ended 30 June 2005 showed:$mOperating profit 44Loan note interest (4)___Profit for year 40____What is the company’s return on capital employed?A 40/240 = 162/3 per centB 40/100 = 40 per centC 44/240 = 181/3 per centD 44/200 = 22 per cent

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第4题

2 The draft financial statements of Choctaw, a limited liability company, for the year ended 31 December 2004 showeda profit of $86,400. The trial balance did not balance, and a suspense account with a credit balance of $3,310 wasincluded in the balance sheet.In subsequent checking the following errors were found:(a) Depreciation of motor vehicles at 25 per cent was calculated for the year ended 31 December 2004 on thereducing balance basis, and should have been calculated on the straight-line basis at 25 per cent.Relevant figures:Cost of motor vehicles $120,000, net book value at 1 January 2004, $88,000(b) Rent received from subletting part of the office accommodation $1,200 had been put into the petty cash box.No receivable balance had been recognised when the rent fell due and no entries had been made in the pettycash book or elsewhere for it. The petty cash float in the trial balance is the amount according to the records,which is $1,200 less than the actual balance in the box.(c) Bad debts totalling $8,400 are to be written off.(d) The opening accrual on the motor repairs account of $3,400, representing repair bills due but not paid at31 December 2003, had not been brought down at 1 January 2004.(e) The cash discount totals for December 2004 had not been posted to the discount accounts in the nominal ledger.The figures were:$Discount allowed 380Discount received 290After the necessary entries, the suspense account balanced.Required:Prepare journal entries, with narratives, to correct the errors found, and prepare a statement showing thenecessary adjustments to the profit.(10 marks)

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第5题

6 Ordan received a statement from one of its suppliers, Alta, showing a balance due of $3,980. The amount dueaccording to the payables ledger account of Alta in Ordan’s records was only $230.Comparison of the statement and the ledger account revealed the following differences:1 A cheque sent by Ordan for $270 has not been allowed for in Alta’s statement.2 Alta has not allowed for goods returned by Ordan $180.3 Ordan made a contra entry, reducing the amount due to Alta by $3,200, for a balance due from Alta in Ordan’sreceivables ledger. No such entry has been made in Alta’s records.What difference remains between the two companies’ records after adjusting for these items?A $460B $640C $6,500D $100

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第6题

The following information is relevant for questions 9 and 10A company’s draft financial statements for 2005 showed a profit of $630,000. However, the trial balance did not agree,and a suspense account appeared in the company’s draft balance sheet.Subsequent checking revealed the following errors:(1) The cost of an item of plant $48,000 had been entered in the cash book and in the plant account as $4,800.Depreciation at the rate of 10% per year ($480) had been charged.(2) Bank charges of $440 appeared in the bank statement in December 2005 but had not been entered in thecompany’s records.(3) One of the directors of the company paid $800 due to a supplier in the company’s payables ledger by a personalcheque. The bookkeeper recorded a debit in the supplier’s ledger account but did not complete the double entryfor the transaction. (The company does not maintain a payables ledger control account).(4) The payments side of the cash book had been understated by $10,000.9 Which of the above items would require an entry to the suspense account in correcting them?A All four itemsB 3 and 4 onlyC 2 and 3 onlyD 1, 2 and 4 only

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第7题

(ii) Audit work on after-date bank transactions identified a transfer of cash from Batik Co. The audit senior hasdocumented that the finance director explained that Batik commenced trading on 7 October 2005, afterbeing set up as a wholly-owned foreign subsidiary of Jinack. No other evidence has been obtained.(4 marks)Required:Identify and comment on the implications of the above matters for the auditor’s report on the financialstatements of Jinack Co for the year ended 30 September 2005 and, where appropriate, the year ending30 September 2006.NOTE: The mark allocation is shown against each of the matters.

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24 Sigma’s bank statement shows an overdrawn balance of $38,600 at 30 June 2005. A check against the company’s cash book revealed the following differences:1 Bank charges of $200 have not been entered in the cash book.2 Lodgements recorded on 30 June 2005

题目

更多“24 Sigma’s bank statement shows an overdrawn balance of $38,600 at 30 June 2005. A check against the company’s cash book revealed the following differences:1 Bank charges of $200 have not been entered in the cash book.2 Lodgements recorded on 30 June 2005”相关问题

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