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题目
a profit of $86,400. The trial balance did not balance, and a suspense account with a credit balance of $3,310 was
included 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 the
reducing 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 petty
cash 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 at
31 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 380
Discount received 290
After the necessary entries, the suspense account balanced.
Required:
Prepare journal entries, with narratives, to correct the errors found, and prepare a statement showing the
necessary adjustments to the profit.
(10 marks)
更多“2 The draft financial statements of Choctaw, a limited liability company, for the year end”相关的问题
第1题
Negotiation means that the Negotiating Bank gives value for draft(s) and/or documents to the Beneficiary. Once the value has been given, the Negotiating Bank would become:
(1)( ) the creditor of the draft (s)
(2)( ) the holder of the draft (s)
(3)( ) the holder in due course of the draft (s)
第2题
When an advising bank has accepted a Time/Usance draft under an advised documentary credit, they are responsible for effecting payment at maturity when:
(1)( ) they have received funds from the Issuing Bank.
(2)( ) they have received funds from the Reimbursing Bank.
(3)( ) the draft is verified by the applicant.
(4)( ) the draft is presented by the beneficiary.
第3题
(1)( ) refinance.
(2)( ) acceptance.
(3)( ) sight payment.
(4)( ) deferred payment.
第4题
信用证中有如下条款：
“At the time of negotiation the amount Davable to yotlrselves the draft amount less 2%comnlissioil due to Mr．Smith，payable by us．(Note：total L/Camount USD)20，262.00)”
请问：在发票和汇票上的金额应分别怎样填写？
第5题
A draft contains the following items:
(1)amount: GBP 32,000.00
(2)drawer: China Textiles Co., Tianjin
(3)drawee: Bank of Europe, London
(4)tenor: at 60 days sight
(5)payee: the order of ourselves
(6)date of issue: 12 May, 200×
(7)drawn clause: Drawn under Bank of Europe, London L/C No. 15243 dated 5 April, 200×
Please indicate a draft containing above items in the form as shown in Question 4.
第6题
In Reimbursement Authorization, the issuing bank should not have the following requirements:
A. Certificate of compliance
B. Parties responsible for charge
C. Sight draft (s)
D. Time draft (s)
(1)( )A, B only (2)( )A, C only
(3)( )B, D only (4)( )C, D only
第7题
(1)( ) 9 December ××××.
(2)( ) 30 days from bill of lading date.
(3)( ) 30 days after 9 November ××××.
(4)( ) 30 days date, draft dated 9 November ××××.
第8题
A. Payment.
B. Deferred payment.
C. Acceptance.
D. Negotiation.
(1)( ) A and B only.
(2)( ) A and C only.
(3)( ) B and C only.
(4)( ) C and D only.
第9题
4 (a) The purpose of ISA 250 Consideration of Laws and Regulations in an Audit of Financial Statements is to
establish standards and provide guidance on the auditor’s responsibility to consider laws and regulations in an
audit of financial statements.
Explain the auditor’s responsibilities for reporting non-compliance that comes to the auditor’s attention
during the conduct of an audit. (5 marks)
第10题
Under a claim for reimbursement at sight, there are two kinds as follows:
(1)()A claim for reimbursement at sight in the form of a teletransmission
(2)( )A claim for reimbursement at sight in the form of an original letter
(3)( )A claim for reimbursement at sight in the form of a sight draft
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