A.Only statement I is correct
B.Only statement II is correct
C.Both statements are correct
D.Neither statement is correct
如搜索结果不匹配，请 联系老师 获取答案
更多“Adjustments to gross selling p…”相关的问题
第1题
included the following figures:
$
Profit 684,000
Closing inventory 116,800
Trade receivables 248,000
Allowance for receivables 10,000
No adjustments have yet been made for the following matters:
(1) The company’s inventory count was carried out on 3 January 2006 leading to the figure shown above. Sales
between the close of business on 31 December 2005 and the inventory count totalled $36,000. There were no
deliveries from suppliers in that period. The company fixes selling prices to produce a 40% gross profit on sales.
The $36,000 sales were included in the sales records in January 2006.
(2) $10,000 of goods supplied on sale or return terms in December 2005 have been included as sales and
receivables. They had cost $6,000. On 10 January 2006 the customer returned the goods in good condition.
(3) Goods included in inventory at cost $18,000 were sold in January 2006 for $13,500. Selling expenses were
$500.
(4) $8,000 of trade receivables are to be written off.
(5) The allowance for receivables is to be adjusted to the equivalent of 5% of the trade receivables after allowing for
the above matters, based on past experience.
Required:
(a) Prepare a statement showing the effect of the adjustments on the company’s net profit for the year ended
31 December 2005. (5 marks)
第2题
Section A
Directions: In this section, there is a short passage with 5 questions or incomplete statements. Read the passage carefully. Then answer the questions or complete the statements in the fewest possible words.
That experiences influence subsequent behaviour is evidence of an obvious but nevertheless remarkable activity called remembering. Learning could not occur without the function popularly named memory. Constant practice has such an effect on memory as to lead to skillful performance on the piano, to recitation of a poem, and even to reading and. understanding these words. So-called intelligent behaviour demands memory, remembering being a primary requirement for reasoning. The ability to solve any problem or even to recognize that a problem exists depends on memory. Typically, the decision to cross a street is based on remembering many earlier experiences.
Practice (or review) tends to build and maintain memory for a task or for any learned material. Over a period of no practice what has been learned tends to be forgotten; and the adaptive consequences may not seem obvious. Yet, dramatic instances of sudden forgetting can be seen to be adaptive. In this sense, the ability to forget can be interpreted to have survived through a process of natural selection in animals. Indeed, when one's memory of an emotionally painful experience leads to serious anxiety, forgetting may produce relief. Nevertheless, an evolutionary interpretation might make it difficult to understand how the commonly gradual process of forgetting survived natural selection.
In thinking about the evolution of memory together with all its possible aspects, it is helpful to consider what would happen if memories failed to fade. Forgetting clearly aids orientation in time, since old memories weaken and the new tend to stand out, providing clues for inferring duration. Without forgetting, adaptive ability would suffer; for example, learned behaviour that might have been correct a decade ago may no longer be. Cases are recorded of people who (by ordinary standards) forgot so little that their everyday activities were full of confusion. Thus forgetting seems to serve the survival of the individual and the species.
Another line of thought assumes a memory storage system of limited capacity that provides adaptive flexibility specifically through forgetting. In this view, continual adjustments are made between learning or memory storage (input) and forgetting (output). Indeed, there is evidence that the rate at which individuals forget is directly related to how much they have learned. Such data offer gross support of contemporary models of memory that assume an input-output balance.
According to Para.1, memory plays an important role in______.
第3题
Ashura has been employed by Rift plc since 1 January 2013. She has also been self-employed since 1 July 2015, preparing her first accounts for the nine-month period ended 5 April 2016. The following information is available for the tax year 2015–16:
Employment
(1) During the tax year 2015–16, Ashura was paid a gross annual salary of ￡56,200.
(2) On 1 January 2016, Ashura personally paid two subscriptions. The first was a professional subscription of ￡320 paid to an HM Revenue and Customs’ (HMRC’s) approved professional body. The second was a subscription of ￡680 to a health club which Ashura regularly uses to meet Rift plc’s clients. Ashura was not reimbursed for the costs of either of these subscriptions by Rift plc.
(3) During the tax year 2015–16, Ashura used her private motor car for business purposes. She drove 3,400 miles in the performance of her duties for Rift plc, for which the company paid her an allowance of 55 pence per mile.
(4) During the tax year 2015–16, Ashura contributed ￡2,800 into Rift plc’s HMRC registered occupational pension scheme and ￡3,400 (gross) into a personal pension scheme.
Self-employment
(1) Ashura’s tax adjusted trading loss based on her draft accounts for the nine-month period ended 5 April 2016 is ￡3,300. This figure is before making any adjustments required for:
(i) Advertising expenditure of ￡800 incurred during January 2015. This expenditure has not been deducted in calculating the loss of ￡3,300.
(ii) The cost of Ashura’s office (see note (2) below).
(iii) Capital allowances.
(2) Ashura runs her business using one of the five rooms in her private house as an office. The total running costs of the house for the nine-month period ended 5 April 2016 were ￡4,350. No deduction has been made for the cost of the office in calculating the loss of ￡3,300.
(3) On 10 June 2015, Ashura purchased a laptop computer for ￡2,600.
On 1 July 2015, Ashura purchased a motor car for ￡19,200. The motor car has a
emission rate of 137 grams per kilometre. During the nine-month period ended 5 April 2016, Ashura drove a total of 8,000 miles, of which 2,500 were for self-employed business journeys.
Other information
Ashura’s total income for the previous four tax years is as follows:
Required:
(a) State TWO advantages for Ashura of choosing 5 April as her accounting date rather than a date early in the tax year such as 30 April. (2 marks)
(b) Calculate Ashura’s revised tax adjusted trading loss for the nine-month period ended 5 April 2016. (6 marks)
(c) Explain why it would not be beneficial for Ashura to claim loss relief under the provisions giving relief to a loss incurred in the early years of trade. Note: You should assume that the tax rates and allowances for the tax year 2015–16 also applied in all previous tax years. (2 marks)
(d) Assuming that Ashura claims loss relief against her total income for the tax year 2015–16, calculate her taxable income for this tax year. (5 marks)
第4题
(b) Show how the adjustments affect:
(i) Closing inventory;
第5题
aged six and eight years. Charles is a teacher but for the last five years he has stayed at home to look after their
children. Jane works as a translator for Speak Write Ltd.
Speak Write Ltd was formed and began trading on 6 April 2006. It provides translation services to universities. Jane,
who ceased employment with Barnham University to found the company, owns 100% of its ordinary share capital
and is its only employee.
Speak Write Ltd has translated documents for four different universities since it began trading. Its biggest client is
Barnham University which represents 70% of the company’s gross income. It is estimated that the company’s gross
fee income for its first 12 months of trading will be ￡110,000. Speak Write Ltd usually agrees fixed fees in advance
with its clients although it charges for some projects by reference to the number of days taken to do the work. None
of the universities makes any payment to Speak Write Ltd in respect of Jane being on holiday or sick.
All of the universities insist that Jane does the work herself. Jane carries out the work for three of the universities in
her office at home using a computer and specialised software owned by Speak Write Ltd. The work she does for
Barnham University is done in the university’s library on one of its computers as the documents concerned are too
delicate to move.
The first set of accounts for Speak Write Ltd will be drawn up for the year ending 5 April 2007. It is estimated that
the company’s tax adjusted trading profit for this period will be ￡52,500. This figure is after deducting Jane’s salary
of ￡4,000 per month and the related national insurance contributions but before any adjustments required by the
application of the personal service companies (IR 35) legislation. The company has no other sources of income or
capital gains.
Jane has not entered into any communication with HM Revenue and Customs (HMRC) with respect to the company
and wants to know:
– When the corporation tax computation should be submitted and when the tax is due.
– When the corporation tax computation can be regarded as having been agreed by HMRC.
Charles and Jane have requested a meeting to discuss the family’s finances. In particular, they wish to consider the
shortfall in the family’s annual income and any other related issues if Jane were to die. Their mortgage is covered
by a term assurance policy but neither of them have made any pension contributions or carried out any other long
term financial planning.
Jane has estimated that her annual after tax income from Speak Write Ltd, on the assumption that she extracts all of
the company’s profits, will be ￡58,000. Charles owns two investment properties that together generate after tax
income of ￡8,500. He estimates that he could earn ￡28,000 after tax if he were to return to work.
The couple’s annual surplus income, after payment of all household expenditure including mortgage payments of
￡900 per month, is ￡21,000. Charles and Jane have no other sources of income.
Required:
(a) Write a letter to Jane setting out:
(i) the arguments that HMRC could put forward, based only on the facts set out above, in support of
applying the IR 35 legislation to Speak Write Ltd; and
(ii) the additional income tax and national insurance contributions that would be payable, together with
their due date of payment, if HMRC applied the IR 35 legislation to all of the company’s income in
2006/07. (11 marks)
第6题
A.purchase date
B.adjustments
C.due date
D.balance
第7题
The major cause of fuel pump and injection system problems is _____.
A.improper adjustments
B.contaminated fuel
C.kinked fuel lines
D.excessive engine vibration
第8题
A.125000
B.0
C.124000
D.none of the above
第9题
A. arrangements
B. appointments
C. changes
D. reforms
第10题
A.选择>色彩范围(Select>ColorRange)
B.图像>调整>可选颜色(Select>Adjustments>SelectiveColor)
C.图像>调整>替换颜色(Image>Adjustments>ReplaceColor)
为了保护您的账号安全，请在“赏学吧”公众号进行验证，点击“官网服务”-“账号验证”后输入验证码“”完成验证，验证成功后方可继续查看答案！
微信搜一搜
赏学吧
微信搜一搜
赏学吧
