At 30 June 20X5 a company’s allowance for receivables was $39,000. At 30 June 20X6 trade receivables totalled $17,000 it was decided to write off debts totalling $37,000 and to adjust the allowance for receivables to the equivalent of 5% of the trade receivables based on past events. What figure should appear in the statement of profit or loss for the year ended 30 June 20X6 for receivables expense?

The Ministry of Finance ___ its anniversary these days.

No matter how hard i tried to make them understand, they just wouldn’t take my word for …….. i said, ……… annoyed me very much.

By the end of 2020, he ___ as the CFO for five years

Which of the following will appear as a positive amount on a statement of cash flows that was prepared using the indirect method?

I have five ___ and a ___ on my desktop.

On December 1, ABC Co.hired Juanita Perez to begin working on January 2 at a monthly salary of $4,000. ABC’s balance sheet of December 31 will show a liability of

She usually listens to pop music but she ___ to jazz these days.

John company uses an allowance method for recording uncollectible receivables. John was notified by Paul that payment on a 1,000$ receivable into the accounts is:

It takes about 5 minutes to walk ___ the bridge.

The entries in a sales ledger control account are : sales $250,000,bank $ 225,000, sales returns $2,500, bad debts (irrecoverable debts?) $3,000, returned unpaid chegue &3,500 Contra with purchase ledger account $4,000 . What is the balance on the sales ledger control account?

You must ____ . It is the most important traffic rule, i think.

Current asset Minus current liabilities is the

The format of the statement of cash flows is very straightforward with cash flows being divided into three categories: operating, investing and financing

___ Javkhaa and Javzaa at last week’s meeting?

Tumur buys goods from Misheel for $2500. He returns half of the goods on 15 May. Which of the following documents would be issued by Misheel for the return of the goods ?

___relates to the tax payable on profits for the period.

___ dress she is wearing is blue.

Which of the following should be classified as current liabilities? 1. Trade receivables 2. Sales tax payable 3. Trade payables 4. Drawings

Cost minus salvage value, the amount of cost that will be allocated to the service life is regarded ___.

___ Swedish is a difficult language to learn.

He is talking for hours but i ____ understand anything.

Gross margin

I’m simply surprised at your lack of authority over him. Why can’t you ………. him eat his dinner?

Change in accounting principle

What type of accounts are deffered revenues and Unearned Revenues?

My son is so happy because he ____ a lot of presents at her birthday party last night.

N purchased a machine for $15,000. The transportation costs were $1,500 and installation costs were $750. The machine broke down at the and of the first month in use and cost $400 to repair . N depreciates machinery at 10% each year on cost, assuming no residual value. What is the book value of the machine after one year?

In 2020, it ___ that many COVID-19 types never ___ in human body.

A campany bought amachine on 1 October year 1 for $52,000. The machine had an expected life of night years and an estimated residual value of $4,000 on 31 march year 6, the machine was sold for $35,000 . The company’s year and is 31 December. The company uses the straight-line mathod for depraction and it charges a full year’s depreciation in the year of purchase and none in the year of sale. What is the profit or loss on disposal of the machine?

On June 1, $800 of goods are sold with credit terms of 1/10, n/30. On June 3 the customer returned $100 of the goods. How much should the seller expect to receive if the buyer pays on June 8?

Which of the following should be accounted for as capital expenditure?

Sales on account: Transactions and events that involve the purchase and sale of securities ( excluding cash equivalents) property, plant, equipment and other assets not generally held for resale, and the making and collecting of loans

Have you heard the great news,AB? The man, ……..refused your proposal last year, has been arrested for embezzlement of government funds.

I visit my parents ___ than my brothers do.

___and ___ us about your trip to italy.

Sometimes email is ____ than a telephone.

If we ___ a yacht, we ___ the seven seas.

She doesn’t know how ___.

It was 6PM and he __ bored because he __ for six hours.

Fiscal year

My wife ___ me that i ___ to fix my car after kids school.

A company disposes of equipment that it no longer uses in its business. The amount received by the company is more than the amount the asset is carried at in the accounting records. The company will report a(n)

Just keep walking ___ (= in the direction of ) that skyscraper.

The personal assets of the owner of a company will not appear on the company’s balance sheet because of which principle/guideline?

This movie was ___ worse than he told me it would be.

Have you ever ___ to the Netherlands?

Hurry up! I don’t have __ time

If there are a lot of people at the bus stop you ___ wait in the queue to get on the bus as polite people do. You ___ jump the queue.

A credit sale of goods for $51 to Dorj was entered in the accounts as $15. What type of error has occurred?

When reconciling the ending cash balance per the bank statement to the correct adjusted cash balance, how would deposits in transit he handled?

While I ___ TV, my son ___ dinner.

Can you answer the phone? ____ is calling.

The turkish manager hasn’t got ___ to say about the teams’s terrible performance.

____ general’s army attacked the city at night

The show was exciting but i ____ I didn’t enjoy it.

It is raining heavly outside. You ____ take your umbrella.

Which financial statement will allow you to determine the gross margin for a retainer or manufacturer?

Which of the following should appear in a company’s statement of changes in equity? 1.Total comprehensive income for the year 2.Amortization of capitalized development costs 3.Surplus on revaluation of non-current assets

Which of the following defines cost classification?

Non-deductible expenses

It is advised to quit ___ alcohol and smoking during pregnancy.

A car was purchased for $60,000 with useful life of 10 years. The company uses straight line method. What is the depreciation for year 1 if company purchased it on the 1st of May?

Choose the correct sentence.

If i ___ his number, i ___ him.

The following financial figures relate to Jolly for a year : 20X2 Sales 50,000, Cost of sales(10,000), Grass profit 40,000, Expenses (15,000), Net profit 25,000 Capital employed 100,000 What is the asset turnover ratio for 20X2?

I ____ with them as soon as we ___ our task.

I ___ for seven hours last night.

Prior-period adjustments

Which of the following journal entries correctly records the credit purchase of plant and equipment?

As per the Mongolian accounting law, the fiscal year starts from 1st of January to 31st of December.

ABC Co has current assets of $50,000 and total assets of $150,000. ABC has current liabilities of 30,000 and total liabilities of $80,000. What’s the amount of ABC’s owner’s equity?

Who did you buy this ___ ?

Which of the following will appear as a positive amount on a cash flows that was prepared using the indirect method?

On June 1, $800 of goods are sold with credit terms of 1/10, n/30. How much should the seller expect to receive if the buyer pays on June 8?

The inspector commented favorably ___ our work.

___ raised on products such as tobacco and alcoholic drinks

The book value of an asset is defined as

I ___ how to dance when i __ 6 years old.

Earnings per share: The amount of net income (earnings) related to each share of stock; computed be dividing net income by the number of shares of common stock outstanding during the period

Yes, i know you’re tired and sleepy, but let me remind you one thing: If you …… up all night to watch that stupid film , the world would look much brighter this morning, wouldn’t it?

Which of the following is not a category or element of the income statement?

Stock split: The replacement of outstanding shares of a stock with a greater number of new shares that have a proportionality lower par or stated value.

This test is ___ harder than the last one.

Which two of the following will be classified as non-current assets for a dealer in computer equipment? 1.Computers for resale 2.Vehicles for delivering computers 3.Business capital 4. Office furniture

Deadline ___ over. We ___ more than 200 exam application.

David’s daughter is studying at secondary school now and she ____ at university when David is 55.

We have got ____ new to play our matches. It is a big park near the town centre.

The corrupt parliament member thought he was ___ the law.

There are ___ than three weeks remainig in the contest.

Standards issued by the international accounting standards board(IASB) are known as:

Bonds that mature in one lump sum at a specified future date.

The spring is coming. Migratory birds ___ after a month.

We will play golf on Sunday if it ___.

Mary wears her white skirt ___ than (she wears) her blue one.

Which of the following will help to reduce overdue balances in receivables ledger accounts?

I have borrowed ___ money from her before.

A company estimates that $20,000 of its $500,000 of accounts receivable will be uncollectible. Its Allowance for doubtful accounts presently has a credit balance of $18,000. The adjusting entry will include a ____ to Bad debts Expense.