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    FA & FFA Mock Exam Set 5 Answer

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    miss aina
    The document provides the answers to questions on an ACCA exam. It lists the question numbers and corresponding answers in a table. It also includes sample solutions and workings for two long-form questions.

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    FA & FFA Mock Exam Set 5 Answer

    Uploaded by

    miss aina
    9 views5 pages
    The document provides the answers to questions on an ACCA exam. It lists the question numbers and corresponding answers in a table. It also includes sample solutions and workings for two long-form questions.

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    © © All Rights Reserved

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    The document provides the answers to questions on an ACCA exam. It lists the question numbers and corresponding answers in a table. It also includes sample solutions and workings for two long-form questions.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    9 views5 pages

    FA & FFA Mock Exam Set 5 Answer

    Uploaded by

    miss aina
    The document provides the answers to questions on an ACCA exam. It lists the question numbers and corresponding answers in a table. It also includes sample solutions and workings for two long-form questions.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 5

    ACCA FA / FFA Progress Test 2 - Suggested Answer

    Question No Answer
    1 D
    2 C
    3 B
    4 C
    5 C
    6 A
    7 A, C
    8 C
    9 1,295,000
    10 B

    Answer for Question 36


    Golding Ltd’s Statement of financial position at 30 June 20X6
    Assets.
    Non current assets
    Property, plant & equipment(10,000-3,600+6,000-3,200-6,400+5000+4000-200-1,200)
    Current assets
    Inventories(Note 1)

    Trade receivables(3,600-280(note a)

    Cash at bank

    Total assets

    Equity & liabilities


    Equities.
    Equity share capital

    Share premium
    Revaluation surplus( Revalued amount 9,000- CA at DOR 10,000-3,600=6,400 =2600
    Retained earnings(4,600+2,900-280-250-200-1,200-80(loan interest)

    Total equities
    Non current liabilities
    8% Loan notes
    Current liabilities
    Trade payables
    Current tax payable
    Accruals(Bonus 250+Loan interest 80)
    Total equities & liabilities

    Workings
    Q15 Dividends to holders of preference shares (8%x$500000)
    Dividends to holders of ordinary shares
    interim($0.02 x($1000000/$0.10)
    final ($0.03x($1,000,000/$0.10)

    Q 28 40%x (150000-(24000x60%x60%) +(34600)


    Question No Answer Question No Answer
    11 A 21 C
    12 1480 22 A
    13 114500 23 A
    14 A 24 D
    15 D 25 C
    16 D 26 B
    17 D 27 B
    18 B 28 D
    19 C 29 A
    20 B 30 B

    Answer for Question 37

    $'000 MG $'000
    Statement of profit or loss for the year ended 31 December 20X3
    10400 Sales Revenue(3,845-15(Note 2)
    Cost of sales:
    4700 Opening inventories(given) 360
    Purchases(2,184+119(Carriage inwards)-60(Note 3) 2243
    3320 Closing inventories[450-65(Note 1)] -385

    1200 Gross profit


    Gain on disposal of office equipment (Note 2 CA (Cost 20-AD14=CA6 - Sales proceeds 15
    19620 Carriage cost
    Irrecoverable debts
    Allowance for receivables[CRA 5%x(620-106 Note 6 (=31-ORA TB 20= 5.7
    Sundry administration expenses(416+28.7-14.4) Note 7
    5000 Depreciation of office equipment(20% x60x6/12 +460-20 x20%)= 94
    Profit before tax
    2200 Current tax expenses(note 8)
    2600 Profit for the year
    5490

    15290

    1000

    2500
    500
    330
    19620

    40000

    200,000
    300,000
    540000 Answer D

    70384
    Question No Answer
    31 3123
    32 A
    33 B
    34 D
    35 A

    $'000

    3830

    -2218
    1612
    D14=CA6 - Sales proceeds 15 9
    -227
    -15
    A TB 20= 5.7 -5.7
    -430.3
    -94
    849
    -75
    774

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