快速查题-ACCA英国注册会计师试题

The accountant at Investotech discovered the following errors after calculating the company's profit for 20X3:(a) A non-current asset costing $50,000 has been included in the purchases account(b) Stationery costing $10,000 has been included as

closing inventory of raw materials, instead of stationery expensesWhat is the effect of these errors on gross profit and net

profit?

A purchase return of $48 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in

the supplier's account.Which of the following statements about the trial balance would be correct?

Two types of common errors in bookkeeping are errors of principle and errors of transposition.Which of the following correctly states whether or not these errors will be revealed by extracting a trial balance?Errors of principle Errors of transposition

Beta Co has total assets of $650,000 and profit for the year of $150,000 recorded in the financial statements for the year

ended 31 December 20X3. Inventory costing $50,000, with a resale value of $75,000, was received into the warehouse on 2

January 20X4 and included in the inventory value that was recorded in the financial statements at 31 December 20X3.What

would the total assets figure in the Statement of Financial Position, and the adjusted profit for the year figure, be after

adjusting for this error?

Total assets (SOFP) Profit for year

Your cash book at 31 December 20X3 shows a bank balance of $565 overdrawn. On comparing this with your bank

statement at the same date, you discover the following.1 A cheque for $57 drawn by you on 29 December 20X3 has not yet

been presented for payment.2 A cheque for $92 from a customer, which was paid into the bank on 24 December 20X3, has

been dishonoured on 31 December 20X3.What is the correct bank balance to be shown in the statement of financial position

at 31 December 20X3?

The cash book shows a bank balance of $5,675 overdrawn at 31 August 20X5. It is subsequently discovered that a standing

order for $125 has been entered twice, and that a dishonoured cheque for $450 has been debited in the cash book instead

of credited.What is the correct bank balance?

A business had a balance at the bank of $2,500 at the start of the month. During the following month, it paid for materials

invoiced at $1,000 less trade discount of 20% and cash discount of 10%. It received a cheque from a customer in respect of

an invoice for $200, subject to cash discount of 5%.What was the balance at the bank at the end of the month?

The bank statement on 31 October 20X7 showed an overdraft of $800. On reconciling the bankstatement, it was discovered

that a cheque drawn by your company for $80 had not been presented for payment, and that a cheque for $130 from a

customer had been dishonoured on 30 October 20X7, but that this had not yet been notified to you by the bank.What is the

correct bank balance to be shown in the statement of financial position at 31 October 20X7?

The following information relates to a bank reconciliation.

(i) The bank balance in the cashbook before taking the items below into account was $8,970 overdrawn.

(ii) Bank charges of $550 on the bank statement have not been entered in the cashbook.

(iii) The bank has credited the account in error with $425 which belongs to another customer.

(iv) Cheque payments totalling $3,275 have been entered in the cashbook but have not been presented for payment.

(v) Cheques totalling $5,380 have been correctly entered on the debit side of the cashbook but have not been paid in at the

bank.

What was the balance as shown by the bank statement before taking the above items into account?

The following bank reconciliation statement has been prepared by a trainee accountant:

BANK RECONCILIATION                                 30

SEPTEMBER 20X2                                           $

Balance per bank statement (overdrawn)      36,840

Add: lodgements credited after date              51,240

Less: unpresented cheques                           88,080

Balance per cash book (credit)                       43,620

                                                                       44,460

Assuming the amounts stated for items other than the cash book balance are correct, what should the cash book balance be?