獨資企業財務報表與年終調整：练习题

In the absence of a formal partnership agreement, which rule applies under Section 24 of the Partnership Act 1890?

The following data was extracted from the records of a trader who does not keep full accounting records:
Trade receivables (1 Jan): \$14,500
Trade receivables (31 Dec): \$16,200
Cash received from customers: \$124,800
Discount allowed: \$2,100
Irrecoverable debts written off: \$900
What is the total credit sales figure for the year?

A manufacturing business maintains a provision for unrealised profit on its finished goods inventory. The following details are available:
Inventory of finished goods (at transfer price) on 1 Jan: \$24,000
Inventory of finished goods (at transfer price) on 31 Dec: \$30,000
Goods are transferred from factory to warehouse at cost plus 25%.
What is the net effect on the Statement of Profit or Loss for the year regarding the provision for unrealised profit?

A manufacturing business provided the following data:
- Opening Work in Progress: \( \$4,500 \)
- Closing Work in Progress: \( \$5,200 \)
- Raw materials consumed: \( \$28,000 \)
- Direct wages: \( \$15,000 \)
- Factory overheads: \( \$9,000 \)
Calculate the Production Cost of Goods Completed for the period.

A trader does not keep full accounting records. On 1 January 2023, her net assets were \( \$45,000 \). On 31 December 2023, her assets and liabilities were:
- Equipment (net): \( \$32,000 \)
- Inventory: \( \$8,400 \)
- Trade Receivables: \( \$5,100 \)
- Bank Overdraft: \( \$1,200 \)
- Trade Payables: \( \$3,800 \)

During the year, she took \( \$500 \) per month for personal use and introduced a private vehicle worth \( \$6,000 \) into the business.

(a) Calculate the closing capital as at 31 December 2023.
(b) Calculate the profit or loss for the year ended 31 December 2023 using the change in capital method.

A social club has the following information for the year ended 31 December 2023:
- Subscriptions received in cash: \( \$12,400 \)
- Subscriptions in arrears (1 Jan 2023): \( \$800 \)
- Subscriptions in advance (1 Jan 2023): \( \$500 \)
- Subscriptions in arrears (31 Dec 2023): \( \$650 \)
- Subscriptions in advance (31 Dec 2023): \( \$900 \)

During the year, the club also held a dance event. Ticket sales were \( \$3,000 \) and expenses for the band and catering were \( \$1,800 \).

(a) Prepare the Subscriptions Account to determine the income for the year.
(b) Prepare the Trading Account for the dance event.
(c) Distinguish between a 'Receipts and Payments Account' and an 'Income and Expenditure Account'.