Pass the CIMA Certificate BA3 Questions and answers with ExamsMirror

The formula for calculating payables days is

Which of the following entries would result in the trial balance not agreeing?

(a) An invoice for £200 for electricity has been omitted from the ledgers

(b) A payment received from a customer has been posted to the accounts twice

(c) An invoice for repairs and maintenance has been charged to the non-current asset account

(d) A payment made to suppliers had been recorded in the cash book but not recorded in the supplier's account

At the beginning of the year, a club's Membership Subscriptions account showed a debit balance of $500 and a credit balance of $225. During the following year, subscriptions received amounted to $12000.

At the end of the year, subscriptions paid in advance amounted to $200, and subscriptions in arrears, and expected to be collected, amounted to $150.

The amount to be transferred to the income and expenditure account for the year is

In times of rising prices, the 'FIFO' method of inventory valuation, when compared to the 'Average Cost' method of inventory valuation, will usually produce:

It underpins all accounting standards and provides the platform from which all future standards will be developed.

Which ONE of the following is described above?

On 1 January 2001, a company owed a supplier £840.

During the month of January the company purchased goods for £1400 and returned goods valued at £200. A payment of £200 was made towards the outstanding balance. The supplier offered a discount of 5% on purchases.

The balance on the supplier's account at the end of the period is:

Refer to the exhibit.

ABC issued 200,000 $0.50 equity shares at a price of $1.80. This amount was received in cash

What is the correct journal to record this issue?

Which THREE of the following are intrinsic elements of intangible assets?

A ledger account is opened with a credit balance of $400. During the period the account is credited with $5,800 and debited with $6,500

What balance will open this account in the following period?

W and Partners has an opening capital balance at 1 January of £14,640 credit.

During the period there was an increase in assets of £6,820 and an increase in liabilities of £5,400.

The balance on the capital account at the end of the period is: