不完整記錄：練習題

A business has a margin of \(20\%\). Information for the period shows:
- Opening inventory: \(\$12,400\)
- Closing inventory: \(\$14,800\)
- Purchases: \(\$56,000\)
- Goods taken by the owner for personal use (at cost): \(\$1,500\)
Calculate the total revenue (sales) for the period.

Which of the following describes the 'mark-up' in the context of incomplete records?

A trader provides the following data:
- Cost of sales: \(\$60,000\)
- Rate of margin: \(20\%\)
What is the value of sales for the year?

A trader provided the following information for the year ended 31 December 2023:

- Net assets at 1 January 2023: \( \$45,000 \)
- Net assets at 31 December 2023: \( \$52,000 \)
- Drawings made during the year: \( \$12,500 \)
- Additional capital introduced on 1 July 2023: \( \$8,000 \)

Calculate the profit or loss for the year using the equity comparison method.

Explain two reasons why a business might maintain incomplete accounting records and state two disadvantages of using this method to prepare financial statements.

Leona is a trader who keeps incomplete records. She provided the following summary of her bank transactions for the year ended 30 June 2023:

- Opening bank balance (overdrawn): \( \$1,200 \)
- Receipts from credit customers: \( \$42,600 \)
- Cash sales banked: \( \$15,000 \)
- Payments to credit suppliers: \( \$29,300 \)
- Rent paid: \( \$4,800 \)
- Equipment purchased by cheque: \( \$7,500 \)

Additional information at 30 June 2023:
- Trade receivables: \( \$3,400 \)
- Trade payables: \( \$2,100 \)

(a) Calculate the closing bank balance at 30 June 2023.
(b) Calculate the total purchases for the year, assuming all purchases were on credit and the opening trade payables were \( \$1,850 \).