- All Exams Instant Download
In a manufacturing company, prime costs is the total of
In a manufacturing company, prime costs is the total ofA . Purchases of raw materials + opening inventories of raw materials - closing inventories of raw materials + direct wages + direct expenses + production overheadsB . Purchases of raw materials + direct wages + direct expenses + production overheadsC...
What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance?
CORRECT TEXT The balances of the trial balance of CDE for the year ended 31 May 20X4 is as follows What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $’000 View AnswerAnswer: $26280
AB sold a machine for $15,000 The machine had originally cost $160,000 and al the dale of disposal had a carrying value of $26,000.
AB sold a machine for $15,000 The machine had originally cost $160,000 and al the dale of disposal had a carrying value of $26,000. The journal entry lo record this disposal is: A) B) C) D) A . Option AB . Option BC . Option CD . Option DView AnswerAnswer:...
CORRECT TEXT
CORRECT TEXT Refer to the Exhibit. A company has the following transactions for an accounting period: Closing inventory at the end of the period was $3,200 and gross profit was $16,400. The opening inventory was thereforeView AnswerAnswer: £5099
Before lending to an entity, which TWO of the following pieces of information would a potential lender want to consider?
Before lending to an entity, which TWO of the following pieces of information would a potential lender want to consider?A . Past tax payments made by the entityB . Social policies of the entityC . Dividend policy of the entityD . Ability of the entity to meet interest paymentsE ....
A company which is VAT-registered receives an invoice for goods purchased for resale totaling $2,585 from a supplier that is not VAT-registered. VAT is at the rate of 17.5%.
A company which is VAT-registered receives an invoice for goods purchased for resale totaling $2,585 from a supplier that is not VAT-registered. VAT is at the rate of 17.5%. The correct entry to record the invoice is: A) B) C) D) A . Exhibit AB . Exhibit BC . Exhibit...
CORRECT TEXT
CORRECT TEXT Refer to the Exhibit. A company operates an AVCO system of inventory. Opening inventory at the beginning of the period was 400 units @ $6.50 per unit. During the period, the following purchases and issues were recorded: The amount charged to the company's income statement in the period...
Which THREE of the following would be classed as essential elements of internal audit?
As well as independence other essential elements of internal audit can be identified. Which THREE of the following would be classed as essential elements of internal audit?A . Due careB . RelationshipsC . Cost efficientD . TimelyE . EvidenceF . EfficientView AnswerAnswer: A,B,E
What is the trade payables balance of BCD at 31 December 20X8?
CORRECT TEXT BCD has the following balances for the year ended 31 December 20X8: What is the trade payables balance of BCD at 31 December 20X8? Give your answer to the nearest $"000. View AnswerAnswer: $380
Which of the following statements is TRUE?
On 31 December 20X6 GHI makes a bonus issue of 50,000 shares On this dale the nominal value of the shares is $1 and the market value is $3 GHI has a share premium account with a substantial credit balance. The share capital account is credited correctly in the nominal...
