Past Exam Paper

The current obligation area of the organization's Balance Sheet on 30 June 2011 should appear: a. Bank Loan $100,000. b. Bank Loan $500,000. c. Bank Loan $500,000, Interest Payable $50,000. d. Bank Loan $1 00,000; Interest Payable $50,000. e. Bank Loan $1 00,000; Interest Payable $20,000. 4. Ham Ltd is going to issue $30 Million of debentures with a 7% coupon rate in the open obligation advertise. On the date of issue the market pace of premium is 6%. What amount should Ham hope to get for the issue of debentures (barring any exchange cost). a. $30 million b. More than $30 million c.Less than $30 million d. $31 million e. The appropriate response can't be resolved from the data given Page 1 of 18 ACCT 7101: Accounting-Final Examination, Second Semester, 2011 5. Isolation of obligations includes: a. Guaranteeing that lone representatives with proper bookkeeping capabilities work in the bookkeeping office. b. Genuinely ensuring delicate resources. c. Giving each staff part an individua l secret key. d. Guaranteeing installments are possibly made when joined by suitable approved documentation. e. Isolating record-shielding from treatment of benefits. 6.When pperforming bank compromise, the completion balance on the Bank Statement ought to be balanced for which of the accompanying things to acquire the right Cash at Bank balance? a. Shamed (NSF) checks. b. Unpresented checks. c. Mistakes made by the bookkeeper. d. Premium got by the bank. e. The entirety of the abovementioned. 7. Truckie Ltd utilizes the never-ending stock framework. stock? b. Dr Accounts Receivable, Cr Sales income. In what manner should it record a credit offer of a. Dr COGS, Cr Inventory; Dr Accounts Receivable, Cr Sales income. c. Dr Inventory, Cr COGS; Dr Accounts Receivable, Cr Sales income