# Company Loss and Profit Accounting

1. Entries of \$ 700 in the discount received account had not been entered in the creditor’s ledger. During the year a machine was sold for \$ 1000. There was only one entry made and it was a credit in the bank account.
What is the balance on the suspense account?
A. \$ 1700 credit
B. \$ 1700 debit
C. \$ 2700 credit
D. \$ 2700 debit

2. A company’s policy is to depreciate its equipment by 30% annually using the reducing balance method.
A piece of equipment which was two years old was sold for \$ 6000 ant he profit on sale was \$ 1590.
What was the cost price of the equipment?
A. \$ 7590 B.\$9000 C.\$9600 D.\$ 11025

3. A company profit and loss account includes:
\$ 000
Dividend 300
Increase in stock 200
Purchases 800
If the net profit percentage is 20%, what is the figure for sales?
A. \$ 1 120 000 B.\$1 250 000 C. \$1 625 000 D.\$ 1 750 000

4. A company has an issued ordinary share capital of 240 000 ordinary shares of \$0.50 each.
The company pays a total ordinary share dividend of \$9600.
The current market price of an ordinary share is \$3.20.
What is the current dividend yield?
A. 1.25% B.2% C. 4% D.8%

5. A business has fixed costs of \$ 100 000. It sells a single product for \$ 25 per unit, and its contributions to sales ratio is 40 %
What is the break-even point in units?
A. 6667 B. 10 000 C 40000 D 250 000

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