logo

Online Exam - Accounting for Business

   

Added on  2023-06-14

8 Pages648 Words155 Views
 | 
 | 
 | 
ONLINE EXAM -
ACCOUNTING FOR
BUSINESS
Online Exam - Accounting for Business_1

Table of Contents
QUESTION 1..........................................................................................................................................3
SECTION B.............................................................................................................................................5
Question 2............................................................................................................................................5
Question 4............................................................................................................................................7
Online Exam - Accounting for Business_2

QUESTION 1
a. Income Statement for the year ended 31st March 2020
Sales 20,000
Cost of sales
Opening inventory 2000
Purchases 16000
Less: Closing inventory [3000] [15000]
Gross Profit 5000
Expenses
Administration expenses 900
Salaries & wages [600 + 10] 610
Selling and distribution expenses [1000 - 100] 900
Depreciation on machinery 625
Depreciation of Building 100
Debenture interest [20 + 10] 30
Audit fee [100 + 40] 140
Bad debt 20
Directors’ remuneration 200
[3525]
Profit Before Tax 1475
Provision for taxation [200]
Profit After Tax 1275
Dividends – interim paid
-- final proposed [8000 x £0.10]
50
800 [850]
Retained profit for the year 425
Retained profit b/f 1610
Online Exam - Accounting for Business_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Accounting for Business: Income Statement, Balance Sheet, Capital Appraisal Techniques, and Ratio Analysis
|12
|1857
|499

Accounting For Business: Income Statement, Balance Sheet, Investment Analysis, Financial Ratios
|10
|1574
|298

Accounting for Business: Income Statement, Balance Sheet, Investment Appraisals, Financial Ratios
|12
|1944
|378

Accounting for Business: Income Statement, Statement of Financial Position, Payback Period, BEP, and Limitations
|9
|967
|360

Accounting for Business: Income Statement, Financial Position, Investment Appraisal, Financial Ratios of NS plc
|10
|1647
|239

AFB Exam: Income Statement, Financial Position, Investment Analysis, Ratios and Performance Evaluation
|11
|1614
|457