Tabular Statements
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Q1. In the opening balances of our Tabular Statement, Accumulated Depreciated should be entered as... *
10 points
Q2. The Balance Sheet shows a figure for Debtors of €80,640 and we are told this is after 4% Provision for Bad Debts has been subtracted. What was the original Debtors figure? *
10 points
Q3. Buildings at cost on 1/1 were €800,000. Accumulated Depreciation was €75,000. If we revalue the Buildings to €900,000, what is the Revaluation Reserve? *
10 points
Q4. We bought a business for €240,000 which included the following assets and liabilities: Stock €8,000, Creditors €12,000, Debtors €23,000, Wages Due €1,800, Investments €45,000. How much was the Goodwill? *
10 points
Q5. In March we purchased goods for €16,940, including VAT of 21%. How much was paid to the vendor? *
10 points
Q6. Our Provision for Bad Debts was €440 in the opening balances. In April, this is to be changed to 6% of Debtors (which are €8,000). What figure will appear opposite Provision for Bad Debts in the April column of our Tabular Statement? *
10 points
Q7. We received a bank statement in July showing a direct debit of €12,000 paid to cover advertising for 9 months from 1/7. If the original Bank figure in our opening balances was a liability, how much will we enter in the Bank column of our Tabular Statement in July? *
10 points
Q8. €30,000 of Authorised Ordinary Shares were remaining, but have recently been sold for €40,000. The €10,000 difference between these two figures is... *
10 points
Q9. A creditor who was owed €5,400 accepted equipment, the book value of which was €4,600 in full settlement of the debt. The equipment had cost €5,000. In our Tabular Statement, which of the following series of entries would be correct? *
10 points
Q10. The Buildings cost on 1/1 was €220,000. On 1/3 we purchased more buildings for €45,000. If depreciation is to be calculated from date of valuation and date of purchase (and the depreciation rate is €4%), what figure will be entered for Buildings Depreciation in the December column of our Tabular Statement? *
10 points
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