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Questions Bank (1393139 total)
What transaction is represented by the entries? Increase: BankDecrease: Trade Receivables - R Ray
'Raising finance with a loan' increases assets (the cash received on loan) and equity (the finance)
D. Spring has an accounting year ending on 31 December. The following amounts have been paid for electricity:
| Date paid | Quarter ended | £ |
|---|---|---|
| 29 March 20X8 | 28 February 20X8 | 96 |
| 7 July 20X8 | 31 May 20X8 | 68 |
| 2 October 20X8 | 31 August 20X8 | 73 |
| 5 January 20X9 | 30 November 20X8 | 82 |
| 3 April 20X9 | 28 February 20X9 | 105 |
Wonka plc has the following ledger account balances as of 1 September 20X5:
Share capital (£0.50 equity shares) £200,000
Share premium account £20,000
On 1 November 20X5 Wonka plc made a 1 for 4 rights issue at £4.50 per share. On 31 August 20X6 it made a 1 for 1 bonus issue from the share premium account.
What are the balances on the two ledger accounts (i.e. share capital and share premium) as of 31 August 20X6?
The following information relates to Camberwell plc's year-end inventory of goods.
| Cost | Expected selling costs | Expected selling price | |
|---|---|---|---|
| £ | £ | £ | |
| Inventories category 1 | 4,570 | 480 | 5,800 |
| Inventories category 2 | 12,090 | 150 | 12,040 |
| Inventories category 3 | 2,300 | 190 | 2,560 |
| 18,960 | 820 | 20,400 |
Entities charge depreciation each year in the statement of profit or loss. Which of the following statement best describes depreciation?
A firm records all transactions relating to the expense rates in 2018.
On 1 January 2018 there was a prepayment of £600 in respect of rates. On 31 December 2018 there was rates prepaid of £700. During the year £3,100 was paid in respect of rates.
The total expense for rates for the year appearing the statement of profit or loss was:
One function of integral membrane proteins in the plasma membrane of cells is
Which of the following statements is CORRECT ?
The structures that hold cells together are