Question 9 The following financial statements relate to Blue Ting for the year ended 31 De

Question 8

May Ltd. has the following information:

Balance Sheet as at 31 December

Year 1 Year 2 Year 3

(＄ '000) (＄ '000) (＄ '000)

Fixed Assets (net) 1,600 2,250 5,750

Stock 1,500 2,000 3,500

Debtors 3,025 5,000 6,250

Bank 2,000 1,250 -

8,125 10,500 15,500

Creditors 2,000 2,500 3,100

Taxation 125 140 150

Overdraft - - 1,750 6,000 7,860 10,500

Financed by

＄1 ordinary shares 500 500 500

Reserves 3,250 5,110 7,750

Bank loan(6% above prime rate due 31/12/2009) 2,250 2,250 2,250 6,000 7,860 15,500

Market price per share ＄25 ＄20 ＄16

Profit and Loss Accounts for the year ended 31 December

Year 3 Year 4 Year 5

(＄ '000) (＄ '000) (＄ '000)

Sales (all credit sales) 24,000 25,000 26,500

Cost of sales 15,000 17,500 19,000

Gross profit 9,000 7,500 7,500

Salaries 2,500 2,000 1,900

Selling and delivery 4130 360 320

Advertising 1,100 1,200 1,300

Other expense 1,375 490 480

Net profit before taxation 3,625 3,450 3,500

Required:

(a)Calculate the following ratios for Year 3, Year 4 and Year 5 (please show format):

(i)Liquid ratio

(ii)Current ratio

(iii)Debtors collection period (days)

(iv)Stock turnover

(v)Capital turnover

(vi)Return on assets employed

(vii)Gross profit margin

(viii)Earning per share

(ix)Price/Earning ratio

(b)Comment on the performance of the company over the three-year period using the ratios calculated above.

Question 8

Wang wants to transfer his money from China to the US. Could you explain the different money transfer methods provided by banks to him?

lue?

Qustion 1

听力原文： Personal loan

A: Good afternoon, Sir, at your service.

B: Oh, thank you. My name is Robert and I'd like to make some enquiries concerning mortgage loan facilities offered by your bank. Am I in the right place?

A: Yes, definitely Sir, please take a seat and let me get hold of a mortgage loan application form. Might I know some details about the property you intend to buy?

B: I decided to purchase an apartment in Sapphire Court on Stanford Road, south of our town. I have already made my down payment last week and now I am trying to get a mortgage loan to finance the purchase.

A: Oh, I see. Is Sapphire Court a new development and what is your purchase price?

B: No, it's a second hand property and as far as I know, it has been 5 years since the building was built. The owner is demanding for ＄1 million.

A: You mentioned that you have paid a down payment. If you don't mind, please tell me how much you have already paid mid the amount of loan you want from the bank?

B: I have paid ＄40,000 to the landlord through the real estate agent and I will just need＄700,000 from the bank. What interest rates shall I pay if I'm approved to get the loan?

A: According to practice, we offer our customer mortgage loans on the basis of prime rate plus 1.5 %. At the moment, prime rate is 8 % so your mortgage loan, if allowed, will approximate to 9.5 %. But we might be able to offer you better terms depending on your profession. Let me first try to fill out this application form. for you. Can I have your ID card please?

B: But I might not want a loan from your bank if the terms are not suitable to me. Should I not fill in any form. at this stage?

A: Sir, the form. is just to record the appropriate details and in any case, we will have to conduct an evaluation of the property before we can approve a loan. In addition, we also need your signature when we come to the very end of the form. There is absolutely no commitment at this stage and you can rest assured that the bank will not force you to take up our loan facilities if you don't want to.

B: I understand. Here is my ID card. You can take a photocopy if you need.

A: Thank you Sir. Now I want the actual address and the size of the property. Do you want the repayment to spread across a 10-year schedule?

B: Yes, let's work on a 10-year repayment schedule, It's Apartment 8A, Sapphire Court, Stanford Road South, so it's on the 8th floor. The size is about 750 square feet as the landlord said. There are 2 bed rooms, a sitting mom, a bath mom and a kitchen. The main window faces the south.

A: That sounds rather attractive. We will conduct an evaluation to find out the size and other related facilities. That will give us an idea on how much we can lend. Normally we only lend to a maximum of 70% for second hand properties but if you are looking for ＄700,000, which is only about 66% of your purchase price, I believe there is high chance for the loan to be approved as the property is quite new.

B: Just now you mentioned possible better terms. What exactly are they?

A: Well, would you mind telling me your profession, your source of income and whether you intend to live in the apartment you purchase?

B: I'm an engineer in Arrow & Moral Electronics Inc. and my annual income is 260,000 dollars. I also receive additional income for the articles I write for the magazines, amounting to ＄3,000 a month. I do plan to live in Sapphire Court myself.

A: Good. Have you brought with you your salary or income tax statement?

B: I'm sorry. I didn't know you need them. But I can send them to you tomorrow.

A: Yes, please. We were talking about better terms just now. For certain profession, we offer special rates and if the property is to be used by the applicant, there will also be special consideration.

B: Is there any penalty if I make early repayment?

A: Only for the first year. There is no penalty if y

Question 7

The summary Balance Sheet of Billy Trading Company on 1 April 2003 was as follows:

＄

Equipment (at cost) 180,000

Less: Provision for depreciation (68,400)

Stock 38,600

Debtors 50,000

Total assets 200,200

Financed by:

Share Capital 70,000

Revenue Reserves 50,000

10% debentures 70,000

Proposed dividends 2,200

Bank overdraft 8,000 200,200

Additional information:

1. The following sales, purchases and payment transactions are expected to occur in the next three months:

Sales Purchases Expenses

＄ ＄ ＄

April 360,000 180,000 60,000

May 370,000 200,000 70,000

June 360,000 190,000 80,000

2. All sales are on credit basis and the collection pattern is expected as follows:

(a)80% of the money will be collected in the month of sales. It is estimated that 5% cash discount will be given for collections in this period.

(b)The remaining 20% of the money will be collected in the month subsequent to sales.

3. Payment to creditors is made in the month of purchases in order to take the advantage of 10% discount which is calculated on the gross purchase figures.

4. Depreciation of tide equipment is calculated at a rate of 15% per annum on cost. Depreciation charges have been included in the estimation of expenses for each month from April to June 2003.

5. Expenses are paid in the month in which they are incurred.

6. Stock levels are expected to remain unchanged throughout the period.

7. The proposed dividend will be paid in May 2003.

8. The debentures interest for the three months will be paid in July 2003.

Required:

(a)Prepare a Budgeted Profit and Loss Account for the three months ended 30 June 2003.

(b)Prepare a Cash Budget for each of the three months from April to June 2003.

(c)Prepare a Budgeted Balance Sheet as at 30 June 2003.

Question 6

Busy Company is a retailer. Most of its sales are made on credit terms. The following information relates to the first 4 years.

Year 1 Year 2 Year 3 Year 4

＄ ＄ ＄ ＄

Trade Debtor as at 31 December 500,000 400,000 550,000 600,000

Bad debt written off for

the year ended 31 December - 30,000 10,000 29,000

Busy Company decides to set aside a provision for bad debts equivalent to 5% of trade debtors as at year end.

Required:

(a)Show how the provision for bad debts would be disclosed in the balance sheet as at 31 January Year 1 to Year 4.

(b)Calculate the bad debt expenses for the respective profit and loss account for each of the 4 years.

describing the purchase record?

Question 1

简述下列情形是否构成侵占：

(1)仓库管理员因其善意之错误，将东西交付错了。

(2)受寄托人在无真正主人通知的情况下，将东西交还给送来的人。

(3)Chan错误地将Lee的书从某地方挪到另一地方，没有占有或剥夺Lee占有此书的意图。

(1986年9月)