The following relates to questions 112. Angela McKenzie, a recent Pharmacy graduate operates a pharmacy in Constant Spring selling pharmaceuticals and a variety of cosmetics and clothes. Miss McKenzie opened her pharmacy on April 1,2006 in the Manor Park: Plaza where she rents a shop at 340000 per month. The rent expense will remain at this rate for the next three years. She rents a small section of the shop to a nail technician Jackie Moore, since January 1,201 for $6000 per month. The trial Balance of the enterprise as at 31March2011, is as follows: Angela's Pharmacy Addivonal unformavon: 1. Imembry at 31 Maxh 2011,$207,000 2. Cieneral adminstrative exemesprepuid $700 3. Depreciste Modor Van by 2r\% per anman on the straight-line hasio bought gifis for her fimily- Other Questions: 1. Net sales for the year ic: a) $2,500,000 b) $2,522,000 c) 2,880,000 d) 32,478,000 2. Reant expeme for the year is: a) 3440,000 b) 3480,000 c) 3400,000 . d) 340,000 e) None of the above 3. Cieneral administative experse for the year is: a) $100,000. b) $120,000 c) $120,700. d) $119,300. 4. Other income for the yeur is: a) 372,000 b) 536,000 c) $18,000 d) 36,000 5. Total carsex asets at year end is: a) 3460,100 . b) $306,100 c) $661,900 d) 5661,800 e) $462,400 6. Denseciation chasgeon motos ran fos theyers is: a) $480,000. b) $380,000 c) $190,000. d) $171,000 e) None of the above 7. Accumulated depreciation (Provision for depreciation) on motor van at year end is: (fos tect2 a) $480,000 b) $380,000 c) $960,000 d) $760,000 e) None of the above 8. Deperciationcharga on equipont for theyeas is: (nodkout) a) $81,000 b) $90,000 c) $190,000 d) $1,810,000 e) None of the above 9. Cost of goods sold is: a) $918,700 c) $1,0533,000 d) 5661,700 e) 1,176,700 e) 1,176,700 10. Total non-current assets at cost is: work out) a) $1,869,000 b) $2,800,000 c) $1,900,000 d) $900,000 11. Total Drawings to be reported in the balance sheet is: work out) a) $202,000 b) $142,000 c) $82,000 d) 360,000 e) None of the above 12. If net income (profit) for the year is $677,200, What is stoclholders 'equity as at 30March 2011 is: a) $2,219,700 b) $2,015,200[677,200+1540,000202,000] c) $2,077,700 d) $2,771,700 e) $1,540,000 13. Current liabilities at year end is: a) 399,900 b) 3139,900 c) $153,900 d) $193,900 e) None of the above 14. The production manager thinks that it is a waste of time to be preparing financial statements every year, since most production contracts are on a long term basis. Which accomting concept is implied here a) Substance over form b) Accrual c) Goingconcem d) Timeperiod 15. The managing director wished that the excellent working conditions and worker relations that they have worked so hard to maintain should be reflected in the accounting statements Which accounting concept is irmplied here a) Substance over form b) money maasurement c) Goingconcem d) periodicity The following relates to questions 112. Angela McKenzie, a recent Pharmacy graduate operates a pharmacy in Constant Spring selling pharmaceuticals and a variety of cosmetics and clothes. Miss McKenzie opened her pharmacy on April 1,2006 in the Manor Park: Plaza where she rents a shop at 340000 per month. The rent expense will remain at this rate for the next three years. She rents a small section of the shop to a nail technician Jackie Moore, since January 1,201 for $6000 per month. The trial Balance of the enterprise as at 31March2011, is as follows: Angela's Pharmacy Addivonal unformavon: 1. Imembry at 31 Maxh 2011,$207,000 2. Cieneral adminstrative exemesprepuid $700 3. Depreciste Modor Van by 2r\% per anman on the straight-line hasio bought gifis for her fimily- Other Questions: 1. Net sales for the year ic: a) $2,500,000 b) $2,522,000 c) 2,880,000 d) 32,478,000 2. Reant expeme for the year is: a) 3440,000 b) 3480,000 c) 3400,000 . d) 340,000 e) None of the above 3. Cieneral administative experse for the year is: a) $100,000. b) $120,000 c) $120,700. d) $119,300. 4. Other income for the yeur is: a) 372,000 b) 536,000 c) $18,000 d) 36,000 5. Total carsex asets at year end is: a) 3460,100 . b) $306,100 c) $661,900 d) 5661,800 e) $462,400 6. Denseciation chasgeon motos ran fos theyers is: a) $480,000. b) $380,000 c) $190,000. d) $171,000 e) None of the above 7. Accumulated depreciation (Provision for depreciation) on motor van at year end is: (fos tect2 a) $480,000 b) $380,000 c) $960,000 d) $760,000 e) None of the above 8. Deperciationcharga on equipont for theyeas is: (nodkout) a) $81,000 b) $90,000 c) $190,000 d) $1,810,000 e) None of the above 9. Cost of goods sold is: a) $918,700 c) $1,0533,000 d) 5661,700 e) 1,176,700 e) 1,176,700 10. Total non-current assets at cost is: work out) a) $1,869,000 b) $2,800,000 c) $1,900,000 d) $900,000 11. Total Drawings to be reported in the balance sheet is: work out) a) $202,000 b) $142,000 c) $82,000 d) 360,000 e) None of the above 12. If net income (profit) for the year is $677,200, What is stoclholders 'equity as at 30March 2011 is: a) $2,219,700 b) $2,015,200[677,200+1540,000202,000] c) $2,077,700 d) $2,771,700 e) $1,540,000 13. Current liabilities at year end is: a) 399,900 b) 3139,900 c) $153,900 d) $193,900 e) None of the above 14. The production manager thinks that it is a waste of time to be preparing financial statements every year, since most production contracts are on a long term basis. Which accomting concept is implied here a) Substance over form b) Accrual c) Goingconcem d) Timeperiod 15. The managing director wished that the excellent working conditions and worker relations that they have worked so hard to maintain should be reflected in the accounting statements Which accounting concept is irmplied here a) Substance over form b) money maasurement c) Goingconcem d) periodicity