04-12-2007, 03:47 AM
Dear all,
i m having difficulty in these questions.ur help in this regard will b highly appreciated.i have to submit this assignment tomorrow.my email [email protected]
Q1There is $100 in the cash till at the year end at F ltd,but the accountant has discovered that some cash has been stolen.At the beginning of the year there was $50 in the cash till n debtors were $2000.Total sales in the year were $230,000.Debtora at the end of the year were $3000.Cheques banked from credit sales were $160,000 and cash sales of $50000 have been banked.
How much cash was stolen during the year?
Q2A ltd has an item in stock which cost $1000 n can be sold for $1200.however,before it can be sold it will require to be modified at a cost of $150.the expected selling cost of the item are an additional $100.
How should this item be valued in stock?
Q3The net profit percentage in a company is 12% and the asset turnover ratio is 2.what is the return on capital employed?
Q4The following information was extracted from the balance sheet of Z ltd at 31 dec 2002
2002 2001
stock $ 100,000 $140,000
debtors 150,000 130,000
trade creditors 125,000 115,000
other creditors 60,000 75,000
what figure should appear as part of the cash flow statement for the year ended 31 dec 2002?
Q5On 1 oct 2002,the debtors balance at G ltd was 80,000.a summary of the transactions in the month of oct is set out below
Cheques received $100,000
Contra creditors 6,000
Sales 90,000
Returns inwards 4,000
Discounts allowed 10,000
The debtors balance at 31 oct was?
Q6The following information relates to NBV ltd for the year ended 31 july 2003.
direct materials 160,000
direct labour 200,000
prime cost 360,000
carriage outwards 80,000
depreciation of delivery vehicles 30,000
factory indirect overheads 450,000
increase in work-in-progress stock 75,000
decrease in stock of finished goods 55,000
what would b the factory cost of goods completed for the year ended 31 july 2003?
Q7MCQ
Information from the Balance sheet of a company is as follows
31 august 2003 31 august 2002
stock 20,000 14,000
trade 16,000 18,000
debtors 12,000 10,000
48,000 42,000
trade creditors 14,000 17,000
34,000 25,000
company is preparing the cash flow statement for the year ended 31 august 2003.in relation to the items above,what should be the net adjustment to operating profit in order to determine the net cash flow from operating activities?
Adeduct $1,000
Bdeduct $2,000
Cdeduct $7,000
Dadd back $1,000
i m having difficulty in these questions.ur help in this regard will b highly appreciated.i have to submit this assignment tomorrow.my email [email protected]
Q1There is $100 in the cash till at the year end at F ltd,but the accountant has discovered that some cash has been stolen.At the beginning of the year there was $50 in the cash till n debtors were $2000.Total sales in the year were $230,000.Debtora at the end of the year were $3000.Cheques banked from credit sales were $160,000 and cash sales of $50000 have been banked.
How much cash was stolen during the year?
Q2A ltd has an item in stock which cost $1000 n can be sold for $1200.however,before it can be sold it will require to be modified at a cost of $150.the expected selling cost of the item are an additional $100.
How should this item be valued in stock?
Q3The net profit percentage in a company is 12% and the asset turnover ratio is 2.what is the return on capital employed?
Q4The following information was extracted from the balance sheet of Z ltd at 31 dec 2002
2002 2001
stock $ 100,000 $140,000
debtors 150,000 130,000
trade creditors 125,000 115,000
other creditors 60,000 75,000
what figure should appear as part of the cash flow statement for the year ended 31 dec 2002?
Q5On 1 oct 2002,the debtors balance at G ltd was 80,000.a summary of the transactions in the month of oct is set out below
Cheques received $100,000
Contra creditors 6,000
Sales 90,000
Returns inwards 4,000
Discounts allowed 10,000
The debtors balance at 31 oct was?
Q6The following information relates to NBV ltd for the year ended 31 july 2003.
direct materials 160,000
direct labour 200,000
prime cost 360,000
carriage outwards 80,000
depreciation of delivery vehicles 30,000
factory indirect overheads 450,000
increase in work-in-progress stock 75,000
decrease in stock of finished goods 55,000
what would b the factory cost of goods completed for the year ended 31 july 2003?
Q7MCQ
Information from the Balance sheet of a company is as follows
31 august 2003 31 august 2002
stock 20,000 14,000
trade 16,000 18,000
debtors 12,000 10,000
48,000 42,000
trade creditors 14,000 17,000
34,000 25,000
company is preparing the cash flow statement for the year ended 31 august 2003.in relation to the items above,what should be the net adjustment to operating profit in order to determine the net cash flow from operating activities?
Adeduct $1,000
Bdeduct $2,000
Cdeduct $7,000
Dadd back $1,000
