CIMA BA3 - Fundamentals of financial accounting

Which one of the following will not be found in a statement of changes in equity?

Principles based accounting uses a conceptual basis to provide guidelines for preparing financial statements.

Which ONE of the following is an example of this approach?

Refer to the Exhibit.

The correct ledger entry for payment of net wages to employees is:

The answer is:

Company X is a private limited oil company. Which of the following are relevant for Company X's integrated report?

FGH has extracted its trial balance from its nominal ledger for the year ended 31 March 20X6 The items below have a value greater than SNil Which are debit and which are credit balances?

Which of the following transactions affects profit but does not affect cash?

Entity V has a cost of sales of £23,850 for last year. Entity V's opening inventories for the year were £15,800, and its closing inventories were £3,570. Entity V had a gross profit margin of 240% for last year.

What was Entity V's inventories turnover figure to the nearest whole number for last year?

A company has a receivables balance at the end of the year of £120,000. The company maintains an allowance for receivables at 3% of closing receivables. The opening balance on the allowance was £ 2,880. During the year bad debts of £ 3,000 were written off

The total charge for bad debts for the year is £

At the beginning of the year, a club's Membership Subscriptions account showed a debit balance of $500 and a credit balance of $225. During the following year, subscriptions received amounted to $12000.

At the end of the year, subscriptions paid in advance amounted to $200, and subscriptions in arrears, and expected to be collected, amounted to $150.

The amount to be transferred to the income and expenditure account for the year is

Below is some information about Company TYY:

TYY offers a wholesale price for Product P of £650 per 100 quantity.

TYY offers regular customers a 35% trade discount.

On every 15th of the month, TYY offers a 15% cash discount on sales.

MPU wants to make a purchase from TTY for the first time, of900 Product Ps on the 15th of June. How much will MPU pay for this purchase?