快速查题-ACCA英国注册会计师试题

Information relating to Lauren Co's transactions for the month of May 20X4 is shown below：

                                                    $

Sales (including sales tax)       140,000*

Purchases (net of sales tax)     65,000

Sales tax is charged at a flat rate of 20%. Lauren Co's sales tax account had a zero balance at the beginning of the month and at the end of the month.

* Lauren Co's sales for the month of $140,000 included $20,000 of sales exempt from sales tax. What was the total sales tax paid to regulatory authorities at the end of May 20X4 (to the nearest $)?

A business commenced with capital in cash of $1,000. Inventory costing $800 plus sales tax ispurchased on credit, and half is sold for $1,000 plus sales tax, the customer paying in cash at once. The sales tax rate is 20%.

What would the accounting equation after these transactions show?

Trade receivables and payables in the financial statements of a sales tax registered trader will appear as described by which

of the following?

Which of the following correctly describe the entry in the sales account for a sale for a sales tax registered trader?

Sales (including sales tax) amounted to $27,612.50, and purchases (excluding sales tax) amounted to $18,000.

What is the balance on the sales tax account, assuming all items are subject to sales tax at 17.5%?

You are given the following information：

Receivables at 1 January 20X3                                                     $10,000

Receivables at 31 December 20X3                                                $9,000

Total receipts during 20X3 (including cash sales of $5,000)          $85,000

What is the figure for sales on credit during 20X3?

A supplier sends you a statement showing a balance outstanding of $14,350. Your own records show a balance outstanding

of $14,500.

Which one of the following could be the reason for this difference?

Your payables control account has a balance at 1 October 20X8 of $34,500 credit. During October, credit purchases were

$78,400, cash purchases were $2,400 and payments made to suppliers, excluding cash purchases, and after deducting

settlement discounts of $1,200, were $68,900. Purchase returns were $4,700.

What was the closing balance?

A receivables ledger control account had a closing balance of $8,500. It contained a contra to the payables ledger of $400, but this had been entered on the wrong side of the control account.

What should be the correct balance on the control account?

Y purchased some plant on 1 January 20X0 for $38,000. The payment for the plant was correctly entered in the cash book but was entered on the debit side of the plant repairs account.Y charges depreciation on the straight line basis at 20% per year,

with a proportionate charge in the years of acquisition and disposal, and assuming no scrap value at the end of the life of the

asset.

How will Y's profit for the year ended 31 March 20X0 be affected by the error?