C2模擬題（三）
Question 21
On 1 May, A pays a rent bill of $1,800 for the twelve months to 30 April. What is the charge/credit to the income statement for the year ended 30 November?
Question 22
A car was purchased for $12,000 on 1 April in year 1 and has been depreciated at 20% each year straight line, assuming no residual value. The company policy is to charge a full year‟s depreciation in the year of purchase and no depreciation in the year of sale. The car was traded in for a replacement vehicle on 1 August in year 4 for an agreed figure of $5,000.
What was the profit or loss on the disposal of the vehicle in year 4?
Question 23
The following information relates to M: At 30 September
Year 2 Year 1
$000 $000
Inventories:
Raw materials 75 45
Work-in-progress 60 70
Finished goods 100 90
For the year ended 30 September Year 2
$
Purchases of raw materials 150,000
Manufacturing wages 50,000
Factory/production overheads 40,000
What is the prime cost of production in the manufacturing account for year 2?
Question 24
A company bought a machine on 1 October year 1 for $52,000. The machine had an expected life of eight years and an estimated residual value of $4,000. On 31 March year 6, the machine was sold for $35,000. The company‟s yearend is 31 December. The company uses the straight-line method for depreciation and it charges a full year‟s depreciation in the year of purchase and none in the year of sale.
What is the profit or loss on disposal of the machine?
A. Loss $13,000
B. Profit $7,000
C. Profit $10,000
D. Profit $13,000
Question 25
N purchased a machine for $15,000. The transportation costs were $1,500 and installation costs were $750. The machine broke down at the end of the first month in use and cost $400 to repair. N depreciates machinery at 10% each year on cost, assuming no residual value.
What is the net book value of the machine after one year?
A. $13,500
B. $14,850
C. $15,525
D. $15,885
Question 26
B made an issue of 150,000 $1 ordinary shares at a premium of 20% the proceeds of which is received by cheque.
What is the correct journal to record this?
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