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ection in statement of financial position Question 2 Test Bank: Q1 J19 Below are the non...
Question 3 Test Bank: Q1Sep 19 Florence prepares the company year end accounts on 31st December...
Question 3 Test Bank: Q1Sep 19 Florence prepares the company year end accounts on 31st December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Percentage Disposal Cost (RM) purchase (year) for Value depreciation (RM) 1-7-2014 Motor Vehicles 10 100,500 1-1-2014 Equipment 142,000 1-1-2014 Labelling 10% 65,000 Machine The company uses: iv) straight line method of depreciation for motor vehicles and equipment. v) reducing balance method for labelling machine with the rate 10% vi) The...
Question 3 Test Bank: 01 Sep 19 Florence prepares the company year end accounts on 31"...
Question 3 Test Bank: 01 Sep 19 Florence prepares the company year end accounts on 31" December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Percentage Disposal Cost (RM) purchase (year) for Value depreciation (RM) 1-7-2014 Motor Vehicles 100,500 1-1-2014 Equipment 142,000 1-1-2014 Labelling 10% 65,000 Machine 10 The company uses: iv) straight line method of depreciation for motor vehicles and equipment. v) reducing balance method for labelling machine with the rate 10% vi)...
Instruction: Answer ALL Questions Question 1 Test bank : TutPPE Florence prepares the company year end...
Instruction: Answer ALL Questions Question 1 Test bank : TutPPE Florence prepares the company year end accounts on 31" December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Disposal Cost (RM) purchase (year) Value (RM) 1 July 2012 Motor Vehicles 100 100,500 1 Jan 2012 Equipment 8 0 142,000 1 Jan 2012 Labelling Machine 8 0 65,000 The company uses: i) straight line method of depreciation for motor vehicles and equipment. ii) reducing balance...
Q1. How much current assets have to be reported in the company’s statement of financial position...
Q1. How much current assets have to be reported in the company’s
statement of financial position as at December 31, 2015?
Q2. What about NON-current assets?
THANK YOU.
At December 31, 2015, the followings require inclusion in a company's financial statements: On December 1, 2015 the company made a loan of $12,000 to an employee, repayable on December 1, 2018, charging interest at 2% per year. On the due date, she repaid the loan and paid the whole of the...
Question 1 The comparative data from the statement of financial position of Azam Berhad at 31...
Question 1 The comparative data from the statement of financial position of Azam Berhad at 31 December, 2016 and 2017 are as follows. Comparative data on current assets and current liabilities at 31 December 2017 I 2017 2016 I RM RM Current Assets Inventories 454.500 ||490.200 Accounts receivable I 174.100 1190.750 Prepaid expenses 17.100 119.200 Cash and cash equivalents T136.500 17.550 Current Liabilities Accounts payable Short-term bank loan 11117,450 ||123.450 117.250 III.250 Statement of profit or loss for the year...
financial accounting
Trial Balance as at 30 June 2019 Debit (RM) Credit (RM) Premise 244,600 Motor Vehicle 112,000 Furniture & Fittings 60,000 Office Equipment 3,800 Bank 27,360 Cash 4,140 Trade Receivables 22,250 Trade Payables 25,243 Fixed Deposit 6% 20,000 Stationeries 1,438 Salary 22,600 Bad Debt 1,000 Utilities Expenses 5,460 Insurance Expenses 8,000 Carriage Inward 2,465 Commission 3,450 Purchases 338,343 Sales 645,989 Inventory as at 1 July 2018 18,340 Capital 120,000 Loan 4% 36,000 Interest on Loan 2,880 Discount...
At 31 December 2016, Jasa Maju Sdn. Bhd. reported the following as non-current assets. Cost Decumulared...
At 31 December 2016, Jasa Maju Sdn. Bhd. reported the following as non-current assets. Cost Decumulared Accumulated Depreciation RM Land RM Ner Realizable Value RM 210,000 Buildings 280,500 56,100 224,400 Equipment Total non-current assets 84,000 36,000 32.400 466.800 Equipment consists of Equipment A (cost RM6,000, purchased on 1 January 2012), Equipment B (cost RM50,000, purchased on 1 January 2015) and Equipment 3 (cost RM28,000, purchased on 1 January 2015). During 2017, the following selected transactions occurred: July 1 Purchased new...
Question 2 Answer both parts of the question in this section. The balances below have been...
Question 2 Answer both parts of the question in this section. The balances below have been extracted from the accounting records of Angel Lights Limited at 31 December 2014: Cr $000s Dr S000s 2.000 5,300 1,060 2,400 960 700 2,095 365 1,100 1,400 100 Freehold land, at cost #2 * Buildings: cost accumulated depreciation at 1.1.14 #4 Fixtures and fittings: cost accumulated depreciation at 1.1.14 Inventory at 1.1.14 # Trade receivables Provision for bad debts Bank Trade payables Ordinary shares...
Florence prepares the company year end accounts on 31st December annually. The following transactions occurred during...
Florence prepares the company year end accounts on 31st December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Disposal Cost (RM) purchase (year) Value (RM) 1 July 2015 Motor Vehicles 10 0 100,500 1 Jan 2015 Equipment 142,000 1 Jan 2015 Labelling Machine 65,000 The company uses: i) straight line method of depreciation for motor vehicles and equipment. ii) reducing balance method for labelling machine with the rate 10% iii) The company implement month...
A company depreciates its motor vehicles based on reducing balance method on strict time basis at the rate of 25 per cent per annum on 31 December each year. Depreciation on its plant at the rate of 10 per cent per annum, straight line method with a full
A company depreciates its motor vehicles based on reducing balance method on strict time basis at the rate of 25 per cent per annum on 31 December each year.Depreciation on its plant at the rate of 10 per cent per annum, straight line method with a full year’s depreciation charged in the year of acquisition and none in the year of disposal.The following are the balances of the non-current assets as at 31 December 2015: Motor Vehicles $Original cost 50,000Accumulated depreciation (15,000)Net...
Question 3 Test Bank: Q1Sep 19 Florence prepares the company year end accounts on 31st December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Percentage Disposal Cost (RM) purchase (year) for Value depreciation (RM) 1-7-2014 Motor Vehicles 10 100,500 1-1-2014 Equipment 142,000 1-1-2014 Labelling 10% 65,000 Machine The company uses: iv) straight line method of depreciation for motor vehicles and equipment. v) reducing balance method for labelling machine with the rate 10% vi) The...
Question 3 Test Bank: 01 Sep 19 Florence prepares the company year end accounts on 31" December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Percentage Disposal Cost (RM) purchase (year) for Value depreciation (RM) 1-7-2014 Motor Vehicles 100,500 1-1-2014 Equipment 142,000 1-1-2014 Labelling 10% 65,000 Machine 10 The company uses: iv) straight line method of depreciation for motor vehicles and equipment. v) reducing balance method for labelling machine with the rate 10% vi)...
Instruction: Answer ALL Questions Question 1 Test bank : TutPPE Florence prepares the company year end accounts on 31" December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Disposal Cost (RM) purchase (year) Value (RM) 1 July 2012 Motor Vehicles 100 100,500 1 Jan 2012 Equipment 8 0 142,000 1 Jan 2012 Labelling Machine 8 0 65,000 The company uses: i) straight line method of depreciation for motor vehicles and equipment. ii) reducing balance...
Q1. How much current assets have to be reported in the company’s
statement of financial position as at December 31, 2015?
Q2. What about NON-current assets?
THANK YOU.
At December 31, 2015, the followings require inclusion in a company's financial statements: On December 1, 2015 the company made a loan of $12,000 to an employee, repayable on December 1, 2018, charging interest at 2% per year. On the due date, she repaid the loan and paid the whole of the...
Question 1 The comparative data from the statement of financial position of Azam Berhad at 31 December, 2016 and 2017 are as follows. Comparative data on current assets and current liabilities at 31 December 2017 I 2017 2016 I RM RM Current Assets Inventories 454.500 ||490.200 Accounts receivable I 174.100 1190.750 Prepaid expenses 17.100 119.200 Cash and cash equivalents T136.500 17.550 Current Liabilities Accounts payable Short-term bank loan 11117,450 ||123.450 117.250 III.250 Statement of profit or loss for the year...
At 31 December 2016, Jasa Maju Sdn. Bhd. reported the following as non-current assets. Cost Decumulared Accumulated Depreciation RM Land RM Ner Realizable Value RM 210,000 Buildings 280,500 56,100 224,400 Equipment Total non-current assets 84,000 36,000 32.400 466.800 Equipment consists of Equipment A (cost RM6,000, purchased on 1 January 2012), Equipment B (cost RM50,000, purchased on 1 January 2015) and Equipment 3 (cost RM28,000, purchased on 1 January 2015). During 2017, the following selected transactions occurred: July 1 Purchased new...
Question 2 Answer both parts of the question in this section. The balances below have been extracted from the accounting records of Angel Lights Limited at 31 December 2014: Cr $000s Dr S000s 2.000 5,300 1,060 2,400 960 700 2,095 365 1,100 1,400 100 Freehold land, at cost #2 * Buildings: cost accumulated depreciation at 1.1.14 #4 Fixtures and fittings: cost accumulated depreciation at 1.1.14 Inventory at 1.1.14 # Trade receivables Provision for bad debts Bank Trade payables Ordinary shares...
Florence prepares the company year end accounts on 31st December annually. The following transactions occurred during the year 2017: Date of Assets Useful life Disposal Cost (RM) purchase (year) Value (RM) 1 July 2015 Motor Vehicles 10 0 100,500 1 Jan 2015 Equipment 142,000 1 Jan 2015 Labelling Machine 65,000 The company uses: i) straight line method of depreciation for motor vehicles and equipment. ii) reducing balance method for labelling machine with the rate 10% iii) The company implement month...
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