Beruflich Dokumente
Kultur Dokumente
http://wenku.baidu.com/view/36bb51eff8c75fbfc77db2ad.html
QUESTION 1
Lille has prepared the following Trading Account, in respect of the year ended 30 September 2008:
000 000
Sales
120
Less
12
Purchases 77
89
Closing stock
83
Gross profit
37
REQUIRED
(a)
Calculate the value of goods the assistant may have stolen, in the year to 30 September 2008:
(i)
at cost price
(ii)
at selling price.
(6 marks)
(b) Give
four other
possible reasons for the fall in gross profit to sales ratio, in the year to
30 September 2008.
(8 marks)
Sedans fixed assets at 1 January 2008 were shown in her Balance Sheet as follows:
Cost Accumulated
Depreciation
NBV
Buildings 720
260
460
400
200
200
During the year ended 31 December 2008, the following transactions took place in relation to fixed
assets:
(1)
Buildings (cost 40,000, accumulated depreciation 10,000) were sold for 8,000
(2)
(3)
Plant and machinery (cost 30,000, net book value 10,000) was sold for 17,000
(4)
Buildings are depreciated at 2% on a straight line basis, assuming zero residual value. Plant and
machinery is depreciated at 20% on a reducing balance basis. A full years depreciation is charged in
REQUIRED
(c)
Calculate for Sedan, the cost, accumulated depreciation, and net book value at
(i) Buildings
(ii)
(11 marks)
(Total 25 marks)