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Practice 1 For K54DD
Practice 1 For K54DD
Practice 1 For K54DD
c) An invoice of $15,000 for energy expenses for October 20X7 has not been received.
(d) Loan note interest has not been paid for the year.
(e) The allowance for receivables is to be increased to 5% of trade receivables. Any expenses connected
with receivables should be charged to administrative expenses
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(f) Plant is depreciated at 20% per annum using the reducing balance method. The entire charge is to be
allocated to cost of sales.
(g) Buildings are depreciated at 5% per annum on their original cost, allocated 30% to cost of sales, 30%
to distribution costs and 40% to administrative expenses.
(h) Income tax has been calculated as $45,000 for the year.
Required
điều chỉnh các chỉ tiêu lien quan đến các thong tin nêu trên để xác định số dư cuối kỳ của các tài khoản có lien
quan.
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30.5 Which of the following events after the reporting period would normally qualify as adjusting events
according to IAS 10 Events after the reporting period?
1 The bankruptcy of a credit customer with a balance outstanding at the end of the reporting period
2 A decline in the market value of investments
3 The declaration of an ordinary dividend
4 The determination of the cost of assets purchased before the end of the reporting period
A 1, 3, and 4
B 1 and 2 only
C 2 and 3 only
D 1 and 4 only
30.6 Ordan received a statement from one of its suppliers, Alta, showing a balance due of $3,980. The
amount due according to the payables ledger account of Alta in Ordan's records was only $230.
Comparison of the statement and the ledger account revealed the following differences:
1 A cheque sent by Ordan for $270 has not been allowed for in Alta's statement.
2 Alta has not allowed for goods returned by Ordan $180.
3 Ordan made a contra entry, reducing the amount due to Alta by $3,200, for a balance due from
Alta in Ordan's receivables ledger. No such entry has been made in Alta's records.
What difference remains between the two companies' records after adjusting for these items?
A $460
B $640
C $6,500
D $100
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