A business's bank balance increased by $750,000 during its last financial year. During the same period it issued shares of
$1 million and repaid a loan note of $750,000. It purchased non-current assets for $200,000 and charged depreciation of $
100,000. Working capital (other than the bank balance) increased by $575,000.
What was its profit for the year?
Profit for the year 1,175
Add back depreciation 100
1275
Add： issue of shares 1,000
Less： repayment of loan notes (750)
Less： purchase of non current assets (200)
1325
Less： increase in working capital (575)
Increase in bank balance 750
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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