DP Business Management Questionbank
3.4 Final accounts (some HL only)
Description
[N/A]Directly related questions
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20N.1.SL.TZ0.4a:
Define the term retained profit.
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20N.2.SL.TZ0.2c:
Using Table 2, prepare a balance sheet for the year ending 31 December 2019.
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20N.2.HL.TZ0.1b.i:
Using information in Table 1, for JJ, prepare a profit and loss account for the budgeted figures and the actual figures
(show all your working). -
20N.2.SL.TZ0.2d:
Explain the possible changes to KPJ’s balance sheet for 2019 if KPJ spent $30 000 on a new digital projector.
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20N.2.SL.TZ0.4c.ii:
Calculate, for 2019, NS 507’s net profit before interest and tax (no working required).
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20N.2.SL.TZ0.2b.i:
Using Table 2, calculate X (no working required).
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17M.2.SL.TZ0.1b.ii:
Construct a profit and loss account for SE for 2015 and 2016.
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17M.2.SL.TZ0.1b.i:
Calculate the values of X and Y in Table 1 (no working required).
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17M.2.SL.TZ0.1c:
Calculate net current assets (working capital) for 2016 (show all your working).
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17M.2.HL.TZ0.2b:
Calculate the value (also known as net book value) of new machinery at 31 December 2017 using the straight line depreciation method (show all your working).
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17M.2.HL.TZ0.2c:
Calculate the value (also known as net book value) of new machinery at 31 December 2017 using the reducing/declining balance method, applying the industry depreciation rate of 40% per annum (show all your working).
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17M.2.HL.TZ0.2d:
Explain one advantage for GD of using the straight line balance depreciation method.
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21M.2.SL.TZ0.2c.i:
Calculate TPS’ equity.
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21M.2.SL.TZ0.2d:
Explain one effect that the $50 000 long-term debt may have on TPS’ profit and loss account.
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16N.2.SL.TZ0.1b.i:
Using information from the table, calculate the missing figures V, W, X and Y (no working required).
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17N.2.SL.TZ0.1c:
Construct a forecasted profit and loss account for PP for the year ending 30 April 2018 based on the figures in Table 2 (show all your working).
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17N.2.SL.TZ0.1b:
Construct a profit and loss account for PP for the year ending 30 April 2017 based on the figures in Table 1 (show all your working).
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18M.2.SL.TZ0.1a:
Define the term current assets.
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18M.2.SL.TZ0.1b:
Using Table 1, calculate Fishers’s net profit before interest and tax for 2017 (show all your working).
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18M.2.SL.TZ0.1d:
Explain why Fishers experiences a significant increase in current assets and current liabilities from March to October.
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18M.2.SL.TZ0.2b.i:
Construct a fully labelled balance sheet for VT for the end of 2017.
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21N.2.SL.TZ0.2b:
Calculating X and Y in Table 3, prepare a profit and loss account for WC for 2022 (show all your working).
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21N.2.HL.TZ0.1a:
Describe one disadvantage of using the reducing/declining balance method of depreciation.
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21N.2.HL.TZ0.1b.ii:
Using the selected financial information in Table 1 and your answer from (b)(i), prepare a balance sheet for PB Ltd for 31 December 2020.
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21N.2.HL.TZ0.1b.i:
Using the reducing/declining balance method of depreciation, calculate PB Ltd’s annual depreciation of fixed assets for 2019 and 2020. Use 5 % as the depreciation rate (show all your working).
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18N.1.SL.TZ0.4b.ii:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
Explain one possible reason for the trend in gross profit margin for AFA between 2016 and 2017.
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.1.SL.TZ0.1b:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
With reference to AFA, explain why applying appropriate principles and ethics of accounting practice is important.
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18N.1.SL.TZ0.4b.i:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
Calculate the gross profit margin of AFA for 2016 and 2017.
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18N.1.SL.TZ0.4a:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
Define the term intangible asset.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
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18N.2.HL.TZ0.2b.i:
Using information from Table 1 construct a fully labelled balance sheet for Papel for the end of October 2018.
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18N.2.HL.TZ0.2a:
Define the term debtors.
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18N.2.SL.TZ0.1b:
(b) Using Table 1, calculate for PI:
(i) gross profit (X);
(ii) tax (Y).
(c) Using Table 1 and your calculations in (i) and (ii), construct a profit and loss account for PI.
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22M.1.HL.TZ0.4c.i:
Using the straight line method, calculate the annual depreciation for each laptop (show all your working).
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22M.1.HL.TZ0.4c.ii:
Comment on the usefulness to PU of the results of your calculation in part (i).
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19M.2.SL.TZ0.5a:
Define the term retained profit.
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19M.2.HL.TZ0.2b.i:
Using the information provided and in Table 1, calculating X and Y, construct a profit and loss account for Enjuice.
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19M.2.SL.TZ0.3c.ii:
Calculate the difference in AI’s net profit before interest and tax between 2018 and 2019 (show all your working).
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19N.2.SL.TZ0.1b.iii:
Using the financial data in Table 1, calculate the level of profit for SSH at 2018’s level of production (show all your working).
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19N.2.HL.TZ0.2b.iii:
Calculate the profit if MWF sells 3600 window fans in 2020.
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19N.1.SL.TZ0.4b.i:
Based on a target of 160 000 for the first year of production at Detox, calculate the gross profit generated by Detox.
Sub sections and their related questions
The purpose of accounts to different stakeholders
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
The principles and ethics of accounting practice
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18N.1.SL.TZ0.1b:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
With reference to AFA, explain why applying appropriate principles and ethics of accounting practice is important.
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
Final accounts: profit and loss account, balance sheet
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17N.2.SL.TZ0.1b:
Construct a profit and loss account for PP for the year ending 30 April 2017 based on the figures in Table 1 (show all your working).
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17N.2.SL.TZ0.1c:
Construct a forecasted profit and loss account for PP for the year ending 30 April 2018 based on the figures in Table 2 (show all your working).
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17M.2.SL.TZ0.1b.i:
Calculate the values of X and Y in Table 1 (no working required).
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17M.2.SL.TZ0.1b.ii:
Construct a profit and loss account for SE for 2015 and 2016.
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17M.2.SL.TZ0.1c:
Calculate net current assets (working capital) for 2016 (show all your working).
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16N.2.SL.TZ0.1b.i:
Using information from the table, calculate the missing figures V, W, X and Y (no working required).
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18M.2.SL.TZ0.1a:
Define the term current assets.
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18M.2.SL.TZ0.1b:
Using Table 1, calculate Fishers’s net profit before interest and tax for 2017 (show all your working).
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18M.2.SL.TZ0.1d:
Explain why Fishers experiences a significant increase in current assets and current liabilities from March to October.
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18M.2.SL.TZ0.2b.i:
Construct a fully labelled balance sheet for VT for the end of 2017.
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18N.1.SL.TZ0.4b.i:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
Calculate the gross profit margin of AFA for 2016 and 2017.
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18N.1.SL.TZ0.4b.ii:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
Explain one possible reason for the trend in gross profit margin for AFA between 2016 and 2017.
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18N.2.SL.TZ0.1b:
(b) Using Table 1, calculate for PI:
(i) gross profit (X);
(ii) tax (Y).
(c) Using Table 1 and your calculations in (i) and (ii), construct a profit and loss account for PI.
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
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18N.2.HL.TZ0.2a:
Define the term debtors.
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18N.2.HL.TZ0.2b.i:
Using information from Table 1 construct a fully labelled balance sheet for Papel for the end of October 2018.
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19M.2.SL.TZ0.3c.ii:
Calculate the difference in AI’s net profit before interest and tax between 2018 and 2019 (show all your working).
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19M.2.HL.TZ0.2b.i:
Using the information provided and in Table 1, calculating X and Y, construct a profit and loss account for Enjuice.
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19N.1.SL.TZ0.4b.i:
Based on a target of 160 000 for the first year of production at Detox, calculate the gross profit generated by Detox.
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19N.2.SL.TZ0.1b.iii:
Using the financial data in Table 1, calculate the level of profit for SSH at 2018’s level of production (show all your working).
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19N.2.HL.TZ0.2b.iii:
Calculate the profit if MWF sells 3600 window fans in 2020.
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20N.1.SL.TZ0.4a:
Define the term retained profit.
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20N.2.SL.TZ0.2c:
Using Table 2, prepare a balance sheet for the year ending 31 December 2019.
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20N.2.HL.TZ0.1b.i:
Using information in Table 1, for JJ, prepare a profit and loss account for the budgeted figures and the actual figures
(show all your working). -
21M.2.SL.TZ0.2d:
Explain one effect that the $50 000 long-term debt may have on TPS’ profit and loss account.
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21N.2.SL.TZ0.2b:
Calculating X and Y in Table 3, prepare a profit and loss account for WC for 2022 (show all your working).
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21N.2.HL.TZ0.1b.ii:
Using the selected financial information in Table 1 and your answer from (b)(i), prepare a balance sheet for PB Ltd for 31 December 2020.
Different types of intangible assets
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18N.1.SL.TZ0.4a:
Refer to the As Fair As case study (SL/HL paper 1 Nov 2018).
Define the term intangible asset.
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
Depreciation using the following methods: straight line method, reducing/declining balance method
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17M.2.HL.TZ0.2b:
Calculate the value (also known as net book value) of new machinery at 31 December 2017 using the straight line depreciation method (show all your working).
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17M.2.HL.TZ0.2c:
Calculate the value (also known as net book value) of new machinery at 31 December 2017 using the reducing/declining balance method, applying the industry depreciation rate of 40% per annum (show all your working).
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17M.2.HL.TZ0.2d:
Explain one advantage for GD of using the straight line balance depreciation method.
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
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21N.2.HL.TZ0.1a:
Describe one disadvantage of using the reducing/declining balance method of depreciation.
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21N.2.HL.TZ0.1b.i:
Using the reducing/declining balance method of depreciation, calculate PB Ltd’s annual depreciation of fixed assets for 2019 and 2020. Use 5 % as the depreciation rate (show all your working).
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22M.1.HL.TZ0.4c.i:
Using the straight line method, calculate the annual depreciation for each laptop (show all your working).
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22M.1.HL.TZ0.4c.ii:
Comment on the usefulness to PU of the results of your calculation in part (i).
The strengths and weaknesses of each method
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18N.2.SL.TZ0.4b.i:
Calculate the net profit margins for DH for 2016 and 2017.
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18N.2.SL.TZ0.4b.ii:
Calculate net current assets (working capital) for DH for 2016 and 2017.
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22M.1.HL.TZ0.4c.ii:
Comment on the usefulness to PU of the results of your calculation in part (i).