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 allowan
A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority wi
In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.Faithful representation is a fundamental characteristic of useful information within the IASB’s Conce
In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.5 Which of the following factors could cause a company’s gross profit percentage on sales to fall bel
Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.L
13 Which of the following correctly describes the imprest system for operating petty cash?Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee
13 Which of the following correctly describes the imprest system for operating petty cash?The following information is available for a manufacturing company which produces multiple products:A
All expe
In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivabl
24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority17 A business income statement for the year ended 31 December 2004 showed a net profit
19 Which of the following statements about intangible assets in company financial statements are correct accordingA corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpai
20 IAS 2 Inventories defines the extent to which overheads are included in the cost of inventories of finished goods.6 Ordan received a statement from one of its suppliers, Alta, showing a balance due
11 The following information is available for Orset, a sole trader who does not keep full accounting records:Which of the following statements relating to internal and external auditors is correct?$
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