The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to31 December 20X2 Altese
introduced a further $50,000 of capital and made drawings of $48,000. At 31 December 20X2 Altese's net assets totalled
$184,000.What is Altese's total profit or loss for the year ended 31 December 20X2?
Increase in net assets = Capital introduced + profit - drawings184,000 - 128,000 = 50,000 + profit - 48,000Profit = 56,000 -
50,000 + 48,000=$54,000
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
最新试题
该科目易错题
该题目相似题
