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1、ACCA F3 Financial AccountingPreparing FinancialStatements(International Stream)PART 1THURSDAY 5 DECEMBER 2002QUESTION PAPERTime allowed 3 hoursThis paper is divided into two sectionsSection A ALL 25 questions are compulsory and MUST beansweredSection B ALL FIVE questions are compulsory and MUST bean
2、sweredPaper 1.1(INT)Section A ALL 25 questions are compulsory and MUST be attemptedPlease use the Candidate Registration Sheet provided to indicate your chosen answer to each multiple choice question.Each question within this section is worth 2 marks.1 The debit side of a trial balance totals $800 m
3、ore than the credit side.Which one of the following errors would fully account for the difference?A $400 paid for plant maintenance has been correctly entered in the cash book and credited to the plant assetaccount.B Discount received $400 has been debited to discount allowed account.C A receipt of
4、$800 for commission receivable has been omitted from the records.D The petty cash balance of $800 has been omitted from the trial balance.2 A company receives rent from a large number of properties. The total received in the year ended 31 October 2002was $481,200.The following were the amounts of re
5、nt in advance and in arrears at 31 October 2001 and 2002:31 October 2001 31 October 2002$ $Rent received in advance 28,700 31,200Rent in arrears (all subsequently received) 21,200 18,400What amount of rental income should appear in the companys income statement for the year ended 31 October2002?A $4
6、86,500B $460,900C $501,500D $475,90023 A company receives rent for subletting part of its office block.Rent, receivable quarterly in advance, is received as follows:Date of receipt Period covered $1 October 2001 3 months to 31 December 2001 7,500-30 December 2001 31 March 2002 7,500 4 April 2002 30
7、June 2002 9,000 1 July 2002 30 September 2002 9,000 1 October 2002 31 December 2002 9,000 What figures, based on these receipts, should appear in the companys financial statements for the year ended30 November 2002?Income statement Balance sheetA $34,000 Debit Prepayment (Dr) $3,000B $34,500 Credit
8、Accrual (Cr) $6,000C $34,000 Credit Accrual (Cr) $3,000D $34,000 Credit Prepayment (Dr) $3,0004 A companys plant and machinery ledger account for the year ended 30 September 2002 was as follows:Plant and machinery cost2001 $ 2002 $1 October Balance 381,200 1 June Disposal account cost of asset sold
9、36,0001 December Cash addition 18,000 30 September Balance 363,200399,200 399,200The companys policy is to charge depreciation at 20% per year on the straight line basis, with proportionatedepreciation in years of purchase and sale.What is the depreciation charge for the year ended 30 September 2002
10、?A $74,440B $84,040C $72,640D $76,8403 P.T.O.5 The following bank reconciliation statement has been prepared by a trainee accountant:Bank reconciliation 30 September 2002$Balance per bank statement (overdrawn) 36,840add: Lodgements credited after date 51,24088,080less: Outstanding cheques 43,620Balance per cash book (credit) 44,460Assuming the amounts stated for items other than the cash book balance are correct, what should the cash bookbalance be?A $44,460 credit as statedB $60,02
