Related Questions

Which one of the following could be described as an ' off balance sheet asset' ?
A Purchased goodwill
B Internally generated goodwill
C An asset being bought on hire purchase
D Leasehold land
Rashna Company collected the following data in its accounting records in 2014 : From the income statement : Depreciation expense Tk. 1,000 Loss on sale of equipment 3,000 From the comparative balance sheet : Beginning balance , equipment Tk. 12,500 Ending balance , equipment 8,000 Beginning balance , accumulated depreciation 2,000 Ending balance , accumulated depreciation 2,400 No new equipment was purchased during the year. The equipment was sold at the end of the year. What was the cash in -flow from the sale of equipment in 2014?
A Tk, 3,900
B Tk. 1,000
C Tk. 900
D Tk. 600
Which one of the following could be describes as an ‘off balance sheet asset’?
A Internally generated goodwill
B An asset being bought on hire purchase
C Purchased good will
D Lease hold Land
An asset must be ________ by the business to be shown as an asset in its balance sheet.
A Possessed
B Owned
C Controlled
D Used
A Business shows total debtors' balance TK. 4,00,000 in its sales ledger at the end of its financial period . One customer owing TK. 40,000 is bankrupt and there is on possibility of getting the debt paid. A further 2% of debtors are considered doubtful . What debtors' total will be included as a current asset in the balance sheet ?
A TK. 4,00,000
B TK. 3,52,800
C TK. 3,52,000
D TK. 36,200
A Business shows total debtor's balance TK. 4,00,000 in its sales ledger at the end of its financial period. One customer owing TK. 40,000 bankrupt and there is no possibility of getting the debt paid. A further 2% of debtors are considered doubtful. What debtor's total will be included as a current asset in the balance sheet ?
A TK. 4,00,000
B TK. 3,52,800
C TK. 3,52,000
D TK. 36,200
The Balance sheet reported a beginning balance TK. 20,000 in Accounts Receivable and an ending balance of TK. 15,000 . Credit sale of TK. 2,00,000 were made during the year. Using the information compute cash collection from customers.
A TK. 2,05,000
B TK. 1,95,000
C TK. 2,00,000
D TK. 2,15,000
The Balance sheet reported a beginning balance TK. 20,000 in Account Receivable and an ending balance of TK. 15,000. Credit sale of TK. 2,00,000 were made during the year. Using the information computer cash collection from customers .
A TK. 2,05,000
B TK. 1,95,000
C TK. 2,00,000
D TK. 2,15,000
Data items in the fixed asset record of a newly purchased asset that a well-designed application program could obtain automatically include
A estimated disposal data
B source
C first cost
D All of the above
E None of the above
In a recent year, Windsor's Boat's reported an asset turnover ratio of 2.46 times and a profit margin of 19.8% . In the same year, Sarah's Sail Boats reported an asset turnover ratio of 1.27 times and a profit margin of 9.9% . Which of the following statements is false ?
A Sarah's did a better job of turning over its assets
B Windsor's did a better job of generating profit from its sales
C Windsor's return on assets (ROA) is 48.7% while Sarah's return on assets is 12.6%
D None of the other answers is false

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