1991-09-26 — Page 30

育教 閒港 日九十月八年未辛潛夏

譁中

:吳氏宗親鹉會副主席吳殿本主祭卯拜 携返與家人共享 : 祖澤同站。 就地分享篇胙,共仰租- 蛇各分症福作一份 | 先 : 副會長與道常我精祝文-行程如做。禮 全體上香膜拜,並蔡忠獻金猪寳帛,叩拜祖 「十人。祀典莊嚴隆重,焚香鼎辉,蔡樂悠揚, 與講師、吳錫彬、吳馬淑卿及會員與守愚等数 事吳炳森-吳茂典、吳孝平,吳錫奎、吳添

上奇案世邦、吳道

會主席吳能根不在香港,改由副主席吳股本 泰伯公,太祖仲公率扎公暨歷代祖先祀典, 一般假期,該會於下午三時在會所每行秋開始祖 | 典。本月二十三日時值秋分節令,適本公 | 揚孝道:每年春秋兩季,均隆重舉行祭祖祀 (港訊】旅港與氏宗親總會慎終追遠 弘

秋祭祖先揚孝

吳氏宗親總會

報日僑華

十一立即報斯。 代查詢,謂一名自稱消防處人員的男子致電 ,,上述咥耳籲是由於消防處最近接到多宗市 到有人都跑防處人員要求賛助印製到物,應 要求市民贊助印製年報或任何刊物。市民若遇 钱。消防處發言人澄清說:「本處並沒有派員 稱消防人員,藉詞議處年報招登廣告以詐取 `灬港} 消防逆昨日促請市民提防有人訛

·提防騙徒藉詞訛騙 消防處促市民警覺

四期星、日六廿月九(一九九一)年十八國民華中(30)

約簽証見港抵員官國泰

備設進先業米源金觀參

重輸正倍讚鐵調公貝南國淡食公人

·泰國商業部官員一行多人在

R. AMARET SILA →

SMK SE

南民應視爲喜訊,日昨奉國宮 國靚米在來年會源源不絕運祧, 美國及中國,簽訂公約・保証本 畫 公約作見識。泰國爲香港主要的 食米來源地,供應胱超逾澳洲、 一大口商簽訂一九九二年食米供應

·府爲泰璽良出口諒與香港食米

鐵的揀米及電腦米等先進設備 調往的米倉,飛沙走石、飛走

,對該公司以冷氣

合作。 | 人如林墒燦丶堈偉昆仲等肯定有更佳的溝通和

市場。是次泰國在貝訪港,與金源来業各負世

.產地包裝,还出口及拓展當地

輸以衛生而先進的技術,實行 正湖備在泰國等地投資設廠,預

一燦合攝。

已暢銷香港市場。 和水品香米、維多米等均爲泰國優質產品,早 金磊米業屬下的暢鏘牌子如金象香米,

·因爲泰國商業部長 MR, AMART 本領衆官

MR. CHALAN MR. CHARE MA

時,與金源米業國際有限公司董事總經理林烱 KARUN MRS. KANNIKAR *****

1

園誠

训者: 育署 595

M

SECTION

(a)

| 1991中學會考試題建議答案

明德出版社

MILL & DALE PRESS

Accounting

SUGGESTED ANSWER TO PRINCIPLES OF ACCOUNTS

Tai Ming Electric Appliance Co. Statement for loss of stock due to fire

Kamay

Bank reconciliation statement as at 30 September 1990

Overdraft as per cash book

Add: Overdraft interest

Uncredited chéquest Dishonoured cheque

1..720

13 460

5:620

Error

12 660

Standing order for rate

4 200

37 660 48.680

12.000 3:200

15 2001 33 480

Stock at 1 January 1990-

Add: Purchases (720+ 2.025).

Less: Costs of sales (Working)

Stacks on hand before fire,

C.M.)

Value recovered (50 x 7,5 x

Total loss

!

學位

Working

FIFO

BAND

Date units:

Cost

Units

Feb

150

750

120

20

120:

50

50

300.

50

50

300

80

600

070

ours)

eelings neration

Stock at 1 January 1990

Add: Purchases

Less: Costs of sales (Working).

Stocks on hand before. fire-

Value recovered (50 x 7.5 x )

Total loss

($'000)

($1000)

750-

745-

2 .070

675.

425

187.5

237,5

0001

($1000)

750

.195

550

300

1872

sed

profit would be increased. (loss decreased) by $62 500.

aniser,

(a) Quick ratio'

ire 5 th

current assets less stock

vw.current: liabil

272 000

166-600

1.6

众

(c)

Bal h/f Goodw11,1

Chan

Partners' current

Wong

Cheung

12 500

.Bal..671.

6 000 Accrued "bonusov Goodwil].

Chan Wong

Choup

3 100

800

8.4-.000

Orawings

-50 000

GOD Salary

Interest

Drval

634

-140

Interest on captial

.Baf d/d

896 21 091

55 327 14 536-100 091

4 693.

Share of profit 16:2279,736.

.3. 000 1:800.. 1.800 6.497 55.327 14 536 100 09:

Less: Debenture interest

Unpresented cheques,

Overdraft as per bank statement

6. (a) (1) Materiality, principle:-

This concept basically states that when a value is very small, in relation to the size of the business, it does not matter even if it is not accurately or specifically disclosed, for example, alt small expenses not" Specifically covered by existing accounts, may be grouped under one account heading Sundry Expenses. Another aspect of the concept is that when certain information is not material for important) for users of the financial statements, the information need not be specifically disclosed in the financial statements. For example, it is not necessary to disclose every trade debtor or trade creditor, but it is sufficient to disclose a total of all trade debtors and a total of all trade creditors in the balance sheet.

(ii) Prudence principle:

This concept states that profits or income should not- be over-estimated and should not be brought into. account unless realized. On the other hand, liabilities and losses should be fully accounted for if known. the main reason or this concept 15 to avoid distribution of unseened profits. Another reason is that it is considered good businessac tee and salvo savor not to ovo-state profits in

under-. stenabilities and losses.

(b) Capital tenditure:-

Purchase of a high capacity computer-aided dontrolling- unita

Wages for installing the above controlling unit.

Training courses. for staff in operating a new system

has been instally recently.:

Extension of the plant for reestructing the production. Vines.

Revenue expenditures:-

Repair's to existing machines

Cost of electricity and power for production

Maintenance expenses.

Rent, and rates.

Tilac Ltd. Manufacturing Account.

the year ended 31 December

Raw Materials consumed Manufacturing wages Prime cost Factory overheads

354 900 137,500

492 400

360

που

3 600

benreciation. Plant & machinery.

1308 000 x 10%)

30 800

81 760

Electricity (5 600 x Factory expenses

Rates and insurance (8-300

Work-in-progress::.

Opening stock)

Less closing stock Factory cost feat.

800

700

(12 900) 561 260

Manufacturing profit (56: 260 x 25%) Total transferred to trading account

140 315 701·575

fletic Ltd.

Trading & profit & loss account

for the year ended 31 Decepbar 1990

(a) Manufactured shoes (6) Imported shoes.

-925-300

13400.

52300

538 600

Cortssion. 350-000x15%

Shoreya

Bulance c/f

6.8 months

學校

Period allowed for the trade debtors

Debtors

x 12 months

sales

260 000

x12 months

師乙 遇佳

-460,000

0228

Stock Turnover Ratio:

cost of goods sold

Liquidity position of Long Island Compnay:

had $1.6 sufficient quick assets to meet liabilities.

The credit period allowed for the trade

SECTION B

7. (a)

current

is more

that half a year. May need to have tighter control

reduce the risk of bad debts.

to

HONG

KO

稚園

,另助 優有福 意請電 晩) 原道 66

average stock

346 500

(34 600 + 26.300) x

11.4

Importance of Stock Turnover Ratio:

It shows the number of times the stock is sold in a year

The higher the ratio, the more will be the profit generated

from selling the stock if the gross profit percentage stays the same.

3(a), Journal entries.

Consignor A/B

$ 400, Sales

.56 000

7:300

45 300

56. 000

Bar trading A/C

for the year ended 31 March 1991-

ock at 1.4.1990 26 Parchages 97 700+33 900)

Less stock as

Cost Or sali

Gross profit

127 1800. Bar sales

131 600

„17

14T

9800 240 100

:(256 500+39 400

56

LTC

Day wages(49:000-32 500) 12:500 Gross profit Bar profit

96.500

Commission -(56-000x15%) Storage

56.000

manufacturing Purchases

352-000

Carr Fagn

Towards

62-300

753 875

414 300

Less: Clock

753 875

1.55 400

358.900

·158 025

179 700

337.725

140 315

478 040

(6 5001

(15 000)

BRARIES

LIBY

240-100

98 300

8.400 10.(a)

2.300

109 000

Detentorest ($300.000 10%

den: Office furniture & fixtures 1121 303

Electricity 45 500 à

ice expenses

Rates and Tusurance 18.30c

Salaries (146, 8003 2001; Selling exprises

Net profit, tur the year

3001

36200)

223 900

Mator vehle

1589-

Jan 1

1989

Bo bet

80,000

1989

Jim 30

Disposal

105.000

sa sd

105.000

Insurance Co.

72.000

P&L loss recovered from

72 000

109 000

(ii) Equipmentsurance

30:000

Purchases or Trading. Account

30:000

(11)

P&L: Depreciation

.2 500

N

Provision for depreciation. (working: $30.000x25x = $2.500)

2 500

Purchases Advertising

(b).

(511) Sales (Trading account)

Statement for revised profit

Profit as per draft

Add: Loss recovered from insurance

Stock transferred to office.

Less: Provision for depreciation equipment

Revised profit

.30 000 (-2-500)

259 500

General expenses

350

Income and expenditure account

for the year ended 31 March 1991.

12 400 Members'

-30 700

(b)

Depreciation

9:000

Subscriptions

·Club house.

-350

Bar profit

96.500

1989

(450 000+135 000+32 500

Net proceeds from

86: 300

-45 0001x10%

Furniture & fixtures ̄(36,000(1-10%}]×10%

57.250, bail

Jun 30

Disposal

3240

160 000

Surplus

:72 000

140 610.

213 500

213:500

1990

Provision for depreciation

moter: vehicle

1989

(32000 Dac 31:

21..000

53 000:

·52'000

2! FOL

54 000

42.000

21 000

Dac-31

PA

.2.1.000

42 000

42 ODO

操作

Quorem Co

1990

Jan 1

Sales

[生熟

Apr 1.

Bank

Interest rec,

熟手薪

Jun 4 Bill rec.

$. 24.000

24:200 400

20.400.

1990

Jan 1 Bills receivable 24.000

8. (a) Journal entries:

Bonus

Capital - Cheung Current account Cheung- Current account - Cheung

Apr 31

Bank 3. Bill receivable Jul 1 Bad debts

Bank

4.200 20.400

Current account Chan Current account - Hong

Dr'. 37-800

30.000 7:800

(c).

1989

5.

1969

6 000

3 GIF 3.0001

Dec 31

050

'Disposal of motor vestelo

Pentsion tex depreciation Downpayman t

10 200 10 200

(b)

Chan, Wong & Cheung

Profit & loss appropriation account for the year ended 31 December 1990.

(d)

sommer dealer

(日)

Sales

Profit for the year

$ 121-280

1983

Add: Interest on Dr, current a/c balance

夜)

1990

Wong:

Jan 1

Quorem

24.000

Jun 30

Dec 31

Disnesal Bel ord

53 000

55 120

1909. Jun 30

Dec 31

"Motan, yehicle

PIL Int..

3

105 000: 3120

9 500 x 12%

140

108 120

103. 120

Chan

1105 000-53 ono,

Bills receivable

((40000-3000-33 100)×12*5 + 10 000×128x23

E

1990

$

Jan 1

Quorem Co.

24 000

1990 Jan 1

1 774 123 054

1990

Bank

22 B00

Less: Salary Cheung (7 000 x 12)

84 000

Jun 30

10 400

1990)

Jan

55 120

· Cash

艾立於一九四

Apr 3

Quarem Co.

20 400

Jun 4

Discounting charges Quorem Co.

.1 200

Interest on capital

20 400-

中五或以上程

Bank

合格,薪優。

Chan (50 000 x 6%)

Wong (30 000 x 6%) Cheung (30 000 x 6%)

Share of profit

3

6 240

44 096

Jun 30 P/L - Tot

15 h

60.736

20 236

1990

$

1990

半驗者優先考

Jan 1

求待遇,附近

Apr 3

3樓學友社。

Jul 1

Bills rec. Quorem Co. Quoren Co.

22 000

Apr 1

4.200

Quorem Co. Noting charges.

24 000

200

10.200

90 600

32 454

Chan (32 454 x 50%) Wong (32 454 x 30%) ∙Cheung (32 454 x 20%).

16 227

6 491

32 454

9 736

ND

C105 900 - 93 oun).×

152 00 10 400)

$ 190.+ 2 496

Page 30Page 31