The following information is relevant for questions 20.4 and 20.5.

A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit

customers and suppliers for the year ended 30 November 20X3.

??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? ?$

Trade receivables, 1 December 20X2????????????????????????????????????????????????????????????????????????? ?130,000

Trade payables, 1 December 20X2??????????????????????????????????????????????????????????????????????????????? ??60,000

Cash received from customers????????????????????????????????????????????????????????????????????????????????????? ?686,400

Cash paid to suppliers??????????????????????????????????????????????????????????????????????????????????????????????????? 302,800

Discounts allowed????????????????????????????????????????????????????????????????????????????????????????????????????????????? 1,400

Discounts received?????????????????????????????????????????????????????????????????????????????????????????????????????????????2,960

Irrecoverable debts????????????????????????????????????????????????????????????????????????????????????????????????????????????4,160

Amount due from a customer who is also a supplier offset against an amount due?

for goods supplied by him??????????????????????????????????????????????????????????????????????????????????????????????????2,000

Trade receivables, 30 November 20X3?????????????????????????????????????????????????????????????????????????? 181,000

Trade payables, 30 November 20X3????????????????????????????????????????????????????????????????????????????????84,000

?Based on the above information, what figure should appear in A's statement of profit or loss for the year ended 30

November 20X3 for sales revenue?

$748,960

$748,800

$744,960

$743,560

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Chapter17Incompleterecords

???????????????????????????????????????????$????????????????????????????????????????????????????????? ?? $

Opening balance?????????????130,000?????????? Cash received??????????????????686,400??

Sales (balancing figure)?? 744,960????????? Discounts allowed???????????? 1,400?

?????????????????????????????????????????????????????????????? ?Irrecoverable debts????????????4,160?

??????????????????????????????????????????????????????????????? ?Contra?????????????????????????????? 2,000??

?????????????????????????????????????????????????????????????? ?Closing balance????????????? ?? 181,000

????????????????????????????????????? ??874,960??????????????????????????????????????????????????????874,960

多做幾道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

The fair presentation concept

?The accruals concept

The going concern concept

?The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

The fair presentation concept

The accruals concept

?The going concern concept

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

1?and?2

2?and?3

?1?and?4

3?and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

Going concern

Accruals

Matching

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

1 and 2 only

2 and 4 only

3 and 4 only

1 and 3 only

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