Questions from Business Accounting

Q: The following figures relate to the retail business of Daisy King for

The following figures relate to the retail business of Daisy King for the month of July. Goods sold fall into two categories, X and Y. You are to calculate for each category of goods: (a) Cost of goo...

Q: Trading Account for the year ending 31 December 2019 /

Trading Account for the year ending 31 December 2019 R. Sheldon presents you with the trading account set out above. Author’s note He always calculates his selling price by adding 3...

Q: Arthur deals in bicycles. His business position at 1 October was

Arthur deals in bicycles. His business position at 1 October was as follows: Capital £3,369 Inventory £306 (3 x Model A bicycles @ £54 and 3 x Model B @ £48) Balance at bank £3,063 Having established...

Q: Darius Lowe gives you the following information as at 31 March 2024

Darius Lowe gives you the following information as at 31 March 2024: Inventory 1 April 2023 ……… 12,000£ Purchases …………………………. 72,000 His mark-up is 40% on ‘cost of goods sold’. His average inventory d...

Q: Study the following financial statements of two companies and then answer the

Study the following financial statements of two companies and then answer the questions which follow. Both companies are wholesalers of household products. The values shown are in £000s....

Q: Laura has recently inherited £50,000 and has been investigating

Laura has recently inherited £50,000 and has been investigating the possibility of buying shares as an investment. She is, initially, looking to maximise her income. She has researched tw...

Q: Write up the accounts to record the following transactions: May

Write up the accounts to record the following transactions: May 1 Started business with £1,500 cash and £18,000 in the bank. 2 Received a loan of £4,000 from T. fox by cheque. 3 Bought a computer for...

Q: Alistair is concerned about the performance of his business. He has

Alistair is concerned about the performance of his business. He has decided to assess the performance using ratio analysis. He is able to provide the following information extracted from his income st...

Q: Yaso is in business buying and selling goods on credit. He

Yaso is in business buying and selling goods on credit. He is concerned that although his business is making a good profit, his balance at the bank is not increasing. The following information is avai...

Q: You are given summarised information about two firms in the same line

You are given summarised information about two firms in the same line of business, A and B, as follows. Required: (a) Produce a table of eight ratios calculated for both businesses. (b) Write a repor...