Subsection 1.5. Preparation of financial statements for Accounting, A Level - revisedeck

1.5. Preparation of financial statements

A subsection of Accounting, 9706, through 1. Financial accounting (AS Level)

Listing 10 of 637 questions

The principle of prudence in the preparation of financial statements is practised through the application of which action?

9706_s12_qp_11

MCQ

2012

Paper 1, Variant 1

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The principle of prudence in the preparation of financial statements is practised through the application of which action?

9706_s12_qp_13

MCQ

2012

Paper 1, Variant 3

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A statement of financial position includes a 10% provision for doubtful debts totalling $7800. The income statement shows bad debts written off of $750 and bad debts recovered of $150. What was the original value of trade receivables?

9706_s13_qp_11

MCQ

2013

Paper 1, Variant 1

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At the beginning of the year a business has a provision for doubtful debts of $2600. At the year end the provision is to be 5% of trade receivables. The balance on the sales ledger control account at the year end is $69 200, before writing off a bad debt of $480. The business operates a separate bad debts account. What is the entry in the income statement for the provision for doubtful debts?

9706_s13_qp_11

MCQ

2013

Paper 1, Variant 1

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Which item would result in a credit entry in an income statement?

9706_s13_qp_13

MCQ

2013

Paper 1, Variant 3

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A company has the following balances. $ trade receivables at 31 December 2012 125 400 provision for doubtful debts at 1 January 2012 1 800 During the year ended 31 December 2012 bad debts of $20 500 had been written off. The company provides for 5% of trade receivables at each year end. What is the doubtful debts expense for the year ended 31 December 2012?

9706_s13_qp_13

MCQ

2013

Paper 1, Variant 3

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The table shows balances at the end of a year. $ expenses prepaid 6 000 expenses accrued 4 000 bank overdraft 11 500 trade payables 13 400 trade receivables 10 500 loan (2017) 20 000 What is the total of current liabilities?

9706_s13_qp_13

MCQ

2013

Paper 1, Variant 3

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A business has a draft profit for the year of $182 750. The following adjustments have not yet been included in the financial statements. a decrease of $2800 in the provision for doubtful debts a prepayment of $3900 for rent receivable What is the actual profit for the year?

9706_s14_qp_11

MCQ

2014

Paper 1, Variant 1

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The following items appear on a statement of financial position. $ inventory 20 000 balance at bank 2 000 cash in hand 1 500 trade payables 11 000 provision for doubtful debts The current ratio is 3 : 1. How much do the trade receivables owe?

9706_s14_qp_11

MCQ

2014

Paper 1, Variant 1

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Which statement is correct?

9706_s14_qp_12

MCQ

2014

Paper 1, Variant 2

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Questions Discovered

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