C/CE ON AC An entity's draft financial statements for the year ended 30 June 20X5 showed...

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C/CE ON AC An entity's draft financial statements for the year ended 30 June 20X5 showed a profit of $91,300. It was later found that $21,000 paid for the purchase of a motor van had been 20% per year, with a full year's charge in the year of acquisition. debited to motor expenses account. It is the company's policy to depreciate motor vans at What is the profit for the year after adjusting for this error? 4 5 Carol had receivables of $598,600 at 30 November 20X5. Her loss allowance for receivables at 1 December 20X4 was $12,460 and she wishes to change that to 2% of receivables at that she had written off in the year ended 30 November 20X4. 30 November 20X5. On 29 November 20X5 she received $635 in full settlement of a debt of loss for the year ended 30 November 20X5? What total amount should be recognised for receivables in the statement of profit A $1,123 credit B $488 credit C $147 debit D 6 $11,972 debit a manufacturing company, according to IAS 2 "Inventories"? Which TWO of the following costs should be included in valuing the inventories of Carriage outwards Non-recoverable taxes on purchases Salary of factory supervisor Abnormal amounts of wasted materials 7 had taken place: The inventory value for the financial statements of Cutie-Q for the year ended 31 December 20X5 was based on an inventory count on 4 January 20X6, which gave a total inventory value of $119,460. Between 31 December and 4 January 20X6, the following transactions Purchases of goods Sales of goods (at 30% mark-up on cost) Goods returned by Cutie-Q to supplier $ 1,230 1,820 200 inventories at 31 December 20X5? What adjusted figure should be included in the financial statements for A XBCD $119,304 $119,704 $119,830 $120,250 ACCA. All rights reserved. C/CE ON AC An entity's draft financial statements for the year ended 30 June 20X5 showed a profit of $91,300. It was later found that $21,000 paid for the purchase of a motor van had been 20% per year, with a full year's charge in the year of acquisition. debited to motor expenses account. It is the company's policy to depreciate motor vans at What is the profit for the year after adjusting for this error? 4 5 Carol had receivables of $598,600 at 30 November 20X5. Her loss allowance for receivables at 1 December 20X4 was $12,460 and she wishes to change that to 2% of receivables at that she had written off in the year ended 30 November 20X4. 30 November 20X5. On 29 November 20X5 she received $635 in full settlement of a debt of loss for the year ended 30 November 20X5? What total amount should be recognised for receivables in the statement of profit A $1,123 credit B $488 credit C $147 debit D 6 $11,972 debit a manufacturing company, according to IAS 2 "Inventories"? Which TWO of the following costs should be included in valuing the inventories of Carriage outwards Non-recoverable taxes on purchases Salary of factory supervisor Abnormal amounts of wasted materials 7 had taken place: The inventory value for the financial statements of Cutie-Q for the year ended 31 December 20X5 was based on an inventory count on 4 January 20X6, which gave a total inventory value of $119,460. Between 31 December and 4 January 20X6, the following transactions Purchases of goods Sales of goods (at 30% mark-up on cost) Goods returned by Cutie-Q to supplier $ 1,230 1,820 200 inventories at 31 December 20X5? What adjusted figure should be included in the financial statements for A XBCD $119,304 $119,704 $119,830 $120,250 ACCA. All rights reserved.