Incomplete Records

What is incomplete records ?

• Has a continuous record of transactions

• A proper records of transactions

• No proper records of transactions

• A complete records of transactions

What is the financial statement use for comparison method ?

• Statement of profit and loss

• Statement of affairs and statement to ascertain profit

• Statement of financial position

• Bank reconciliation statement

How to find net income?

• OE Ending - OE Beginning + Drawing - Additional Capital

• OE Ending + OE Beginning + Drawing - Additional Capital

• OE Ending - OE Beginning + Drawing + Additional Capital

• OE Ending + OE Beginning - Drawing + Additional Capital

How to determine net income?

• By using statement to ascertain profit

• By using statement of affairs

• By using statement of financial position

• By reconstructing and then balancing the capital account

When to use comparison method?

• The information available contains on revenues and expenses

• The information available contains on assets and liabilities

• There is no information available

• The information available contains assets, liabilities, revenues and expenses

When to use analysis method?

• The information available contains revenues and expenses

• The information available contains assets, liabilities, revenues and expenses

• The information available contains assets and liabilities

• There is no information available

How to get more information since there is lack of records?

• Try to find back the records when anything happens

• Financial institutions such as banks or finance house

• Accounts receivables and accounts payables

• Existing records

What kind of method that we use when there are only assets and liability available ?

• Comparing method

• Analysis method

• Pythagoras theorem

• Comparison method

What types of details should be in Statement to ascertain profit ?

• Depreciation

• Assets

• Bad debts

• Liabilities

What should we do after subtracting assets and liabilities ?

• Less beginning owner's equity

• Add drawing

• Less additional capital

• Less net income