Accounting and Finance

$42 100

$44 300

$44 600

$45 900

called up share capital

capital the company is allowed to raise

issued capital plus loan capital

paid up share capital

10%

30%

40%

70%

capital expenditure treated as revenue expenditure

an incorrect amount entered as both a debit and a credit

complete omission of a transaction

an incorrect amount entered twice as a debit

$120 000

$480 000

$576 000

$600 000

capital account

purchases account

purchases returns account

sales account

apportioned among old partners in old profit-sharing ratios

apportioned among all partners in new profit-sharing ratios

apportioned equally among all partners

apportioned equally among old partners

$8 000

$9 800

$10 000

$12 000

Sales

Cash

Janitorial receivable

Accounts payable

depreciation of vehicles that deliver the furniture

insurance of the machinery used to make the furniture

transport costs of bringing in the raw materials to make the furniture

wages of workers maintaining the factory machinery