Acca financial Accounting (FA) Study Text ac ca (FA)

PRACTICE QUESTIONS 

504

 

KAPLAN PUBLISHING

 

Task 2 

(a)

‘Drag and drop’ the following two items to state the accounting

entries required to account for the dishonoured cheque.

Items: Credit/Debit

 (2 marks)

Selection

 

Revenue

Trade and other receivables 

Cash

Trade and other payables 

(b)

What is the depreciation charge to be included in the statement

of profit or loss for the year? 

(2 marks) 

Buildings

$______

Plant and equipment 

$______ 

(c)

At what valuation should closing inventory be included in the

financial statements for the year ended 31 December 20X1?

(2 marks)

$______ 

Task 3 

Which of the following correctly calculates the figure to include in the 

statement of financial position for net trade receivables after 

adjustment for the allowance for receivables?  

(2 marks) 

Selection

 

$65,000 + $6,000 – $1,000 

$65,000 – $500 

$65,000 + $6,000 – $500 

Task 4 

During the year, Zbox made a ‘1 for 5’ bonus issue of shares. The bonus 

issue has not yet been accounted for.