Practise online Get the app

Paper 2 · November 2014 · Departmental accounts

In J. Sithole's Statement of Financial Position as at 31 December 2011, non-current assets totalled $157 200 and current assets totalled $85 800. What was the total assets figure?

A$157 200

B$214 600

C$228 000

D$243 000

Explanation

$157 200 + $85 800 = $243 000.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, November 2014 Specimen Paper, Q1

View this paper's sittings and topics→

More questions from this paper

Jongwe Limited sold a motor van on 31 December 2009 for $10 000 cash. The van's original cost was $20 000 and the accumulated depreciation on it at the date of sale was $4 000. What was the profit or loss on disposal?
In C. William's Stationery Account for 2011, an entry of 'Profit and Loss $3 100' appears on the credit side at 31 December. What does this entry represent?
Mwanza Manufacturing Company had opening raw material stock of $13 000, purchases of raw materials of $67 000, freight charged on raw materials of $3 000, and closing raw material stock of $25 000 for the year ended 31 December 2010. What was the cost of raw materials consumed?
Mwanza Manufacturing Company's Manufacturing Account for the year ended 31 December 2010 showed a prime cost of $78 000 and total factory overheads/production cost of goods manufactured of $97 000. In the Trading Account, sales were $150 000, and cost of sales (opening finished goods stock $14 000 plus production cost $97 000 less closing finished goods stock $24 000) was $87 000. What was the gross profit?
D. Dlodlo, a retailer, sold goods with a cost price of $8 500 on credit to A. Mashamba for $9 500. What is the effect of this transaction on working capital: increase, decrease, or no effect?

Get the full paper, not just one question

Danho has every sitting for this paper, with your progress tracked question by question, offline.

Get it on Google Play Download on the App Store