題目

Gamma purchases a motor vehicle on 30 September 20X1 for $15,000 on credit. Gamma has a policy of depreciating

motorvehicles using the reducing balance method at 15% per annum, pro rata in the years of purchase and sale.

What are the correct ledger entries to record the purchase of the vehicle at 30 September 20X1 and what is the

depreciationcharge for the year ended 30 November 20X1?Purchase of motor vehicle on 30.9.X1 Depreciation charge for

year ended 30.11.X1

A

Dr Non-current assets - cost Cr Payables?$15,000?$15,000?$2,250

B

Dr Payables? Cr Non-current assets - cost?$15,000?$15,000?$2,250

C

Dr Non-current assets - cost Cr Payables?$15,000?$15,000?$375

D

Dr Payables? Cr Non-current assets - cost?$15,000?$15,000?$375?

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Chapter8Tangiblenon-currentassets

To record the purchase of the asset:Dr Non-current assets - cost?$15,000Cr Payables?$15,000

Depreciation charge is 15,000 x 15% x 2/12 = $375

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?

A

The fair presentation concept

B

?The accruals concept

C

The going concern concept

D

?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?

A

The fair presentation concept

B

The accruals concept

C

?The going concern concept

D

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

A

1?and?2

B

2?and?3

C

?1?and?4

D

3?and4

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

A

Going concern

B

Accruals

C

Matching

D

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?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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