Pass the CIMA Certificate BA3 Questions and answers with ExamsMirror

Which one of the following will not be found in a statement of changes in equity?

On 31 December 20X6 GHI makes a bonus issue of 50,000 shares On this dale the nominal value of the shares is $1 and the market value is $3 GHI has a share premium account with a substantial credit balance. The share capital account is credited correctly in the nominal ledger. Which of the following statements is TRUE?

External auditors report their opinion to the members of the company after their independent examination of the financial statements.

Which THREE of the following should be included in their opinion?

Refer to the Exhibit.

What is the wages expense for the income statement for month 1?

Select the THREE INCORRECT statements from the following list of statements about memorandum accounts:

AB sells two products ,X and Y. The following information was available at AB’s year-end, 31 December 20X6:

At 31 December 20X6 AB held 800 units of Product X and 400 units of Product Y

What is the value that will be included in inventories in AB's statement of financial position as at 31 December 20X6?

The accounting concept which states that non-current assets should be valued at cost (or valuation) less accumulated depreciation, rather than their saleable value in the event of closure, is the.

A company has authorized capital of 100,000 5% preference shares of $2 each and 500,000 ordinary shares of $0.20p each. All of the preference shares have been issued, and 400,000 ordinary shares have been issued at $0.45p each.

Interim dividends of $0.10p per ordinary share, plus half the preference dividend have been paid during the current year. A final dividend of $0.20p per ordinary share is declared.

The total of dividends payable for the year is

Refer to the Exhibit.

John Taylor commenced business on 1 March 2006, paying $1,000 cash into a business bank account. During the next month the following transactions took place.

The balance on the bank account at the end of the month is:

ABC manufactures vehicle engines and purchases components from a supplier Each engine requires one component costing $10 each ABC's supplier otters a 5% volume discount which has always been taken, this reduces the cost to $9.50 each. However, ABC has recorded the cost as $10 throughout the accounting system

Once the correct price is recorded, what will be the effect on the factory costs incurred and the gross profit margin (GP%)?

A)

B)

C)

D)