Exercise 10 - Annual Accounts For Costa & Kappa Inc.

22 Questions | Total Attempts: 60

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Exercise 10 - Annual Accounts For Costa & Kappa Inc.

Please find in a seperate document the adjusted trail balance for Costa & Kappa Inc. On the basis of the adjusted trail balance please fill in the annual accounts template for the company.


Questions and Answers
  • 1. 
    Profit/loss: The account sales should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 2. 
    Profit/loss: The accounts cash discount and cost of goods sold should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 3. 
    Profit/loss: The accounts advertising expenses, premises expenses, audit fee, running expense of cars, bad debt and miscellaneous expense should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 4. 
    Profit/loss: The accounts salery/wages expense, pension contribution and other employee costs should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 5. 
    Profit/loss: The accounts depreciation on equipment, depreciation on cars, depreciations on plant and machinery, depreciation on buildings should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 6. 
    Profit/loss: The account interest revenue should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 7. 
    Profit/loss: The accounts interest expenses and admission costs should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 8. 
    Profit/loss: The account corporation tax should be classified under:
    • A. 

      Turnover

    • B. 

      Cost of goods sold

    • C. 

      Contribution/gross profit

    • D. 

      External costs

    • E. 

      Employee costs/staff costs

    • F. 

      Other income

    • G. 

      Other expenses

    • H. 

      Operating profit

    • I. 

      Depreciations

    • J. 

      Result from primary operations

    • K. 

      Financial expenses

    • L. 

      Financial income

    • M. 

      Result before tax

    • N. 

      Tax

    • O. 

      Net result

  • 9. 
    Balance sheet: The accounts plant and machinery and acc. depreciation on plant and machinery should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 10. 
    Balance sheet: The account inventory should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 11. 
    Balance sheet: The accounts trade debtors and provision for bad debt should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 12. 
    Balance sheet: The account prepayments (prepaid expenses) should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 13. 
    Balance sheet: The accounts cash and bank overdraft should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 14. 
    Balance sheet: The account company capital should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 15. 
    Balance sheet: The account premium should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 16. 
    Balance sheet: The account retained earnings together with the net result from the profit/loss (income statement) should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 17. 
    Balance sheet: The account long term liabilities should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 18. 
    Balance sheet: The account trade creditors should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 19. 
    Balance sheet: The account corporation tax payable should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 20. 
    Balance sheet: The accounts input vat, output vat, vat payable, payable withheld income taxes, payable pension contributions and other creditors should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 21. 
    Balance sheet: The account deferred taxes should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

  • 22. 
    Balance sheet:The account dividend for the year should be classified under:
    • A. 

      Land and building

    • B. 

      Equipment

    • C. 

      Car

    • D. 

      Plant and machinery

    • E. 

      Total fixed assets

    • F. 

      Inventory

    • G. 

      Trade debtors

    • H. 

      Prepayments

    • I. 

      Cash and deposits

    • J. 

      Total current assets

    • K. 

      Total assets

    • L. 

      Company capital

    • M. 

      Premium

    • N. 

      Retained earnings

    • O. 

      Total equity

    • P. 

      Provision for deferred tax

    • Q. 

      Total provisions

    • R. 

      Long term loans

    • S. 

      Total long term creditors

    • T. 

      Overdraft

    • U. 

      Trade creditors

    • V. 

      Corporation tax

    • W. 

      Other debt

    • X. 

      Dividend under the equity

    • Y. 

      Total short term creditors

    • Z. 

      Total liabilities

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