Questions from Financial Accounting


Q: Classify each of the following as a measurement basis, an accounting

Classify each of the following as a measurement basis, an accounting policy or an estimation technique, and explain your reasons: a. Advertising expenditure that has been treated as a non-current asse...

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Q: T. Bone is a sole trader and reports the following for

T. Bone is a sole trader and reports the following for the year ended 30 June 20X1: Notes 1. The 20X0 allowance for irrecoverable receivables was £600. 2. The 20X1 allowance for irrecove...

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Q: A. Net is a sole trader and reports the following for

A. Net is a sole trader and reports the following for the year ended 31 December 20X9: Note: The car that was disposed of during the year was sold for £400, which was lodged in A. Net&a...

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Q: The following are the financial statements for A. Tack for the

The following are the financial statements for A. Tack for the years ended 30 June 20X1 and 20X0: Required Prepare a statement of cash flows in accordance with IAS 7 for A. Tack for the year ended 3...

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Q: The following are the financial statements for S. Low for the

The following are the financial statements for S. Low for the years ended 30 April 20X0 and 30 April 20X1: Required Prepare a statement of cash flows in accordance with IAS 7 for S. Low for the year...

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Q: The statement of financial position of C.F. Ltd for

The statement of financial position of C.F. Ltd for the year ended 31 December 20X9, together with comparative figures for the previous year, is shown below. Additional information 1. There were no...

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Q: The statement of financial position of Euston Ltd as at 31 December

The statement of financial position of Euston Ltd as at 31 December 20X9, with corresponding amounts, showed the following: Notes relevant to 20X9 1. Property, plant and equipment includes the follo...

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Q: The following are the statements of financial positions of Waterloo plc for

The following are the statements of financial positions of Waterloo plc for the last two financial years ended on 30 September. Explanatory notes to the statement of financial positions are as follo...

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Q: The summarized statements of financial position as at 31 March 20X1 and

The summarized statements of financial position as at 31 March 20X1 and 31 March 20X0 of Higher Ltd are as follows: Additional information 1. Non-current assets Non-current assets disposed of duri...

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Q: J. White, a sole trader, has produced the following

J. White, a sole trader, has produced the following statements of financial position for the years ended 31 March 20X8 and 31 March 20X9. J. White is unable to understand why, after he has made a pr...

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