An extract from the statement of cash flows for the year ended 31 December 20X7 for Top Trades Co is presented as follows:
Which of the following statements is correct according to the extract of Top Trades Co’s statement of cash flows?
A.The company has good working capital management
B.Net cash generated from financing activities has been used to fund the additions to non-current assets
C.Net cash generated from operating activities has been used to fund the additions to non-current assets
D.Existing non-current assets have been sold to cover the cost of the additions to non-current assets
第1题
requires an entity to first of all review the measurement of the assets, liabilities and consideration transferred in respect of the combination.
When the negative goodwill is confirmed, how is it then recognised?
A.It is credited directly to retained earnings
B.It is credited to profit or loss
C.It is debited to profit or loss
D.It is deducted from positive goodwill
第2题
e frequently.
Which of the following statements are true when using historical cost accounting compared to current value accounting in this type of market?
(1) Capital employed which is calculated using historical costs is understated compared to current value capital employed
(2) Historical cost profits are overstated in comparison to current value profits
(3) Capital employed which is calculated using historical costs is overstated compared to current value capital employed
(4) Historical cost profits are understated in comparison to current value profits
A.1 and 2
B.1 and 4
C.2 and 3
D.3 and 4
第3题
construction of a new piece of production equipment. The interest rate on the loan is 6% and is payable on maturity of the loan. The construction commenced on 1 November 20X1 but no construction took place between 1 December 20X1 to 31 January 20X2 due to employees taking industrial action. The asset was available for use on 30 September 20X2 having a construction cost of $6m.
What is the carrying amount of the production equipment in Bash Co’s statement of financial position as at 30 September 20X2?
A.$5,016,000
B.$6,270,000
C.$6,330,000
D.$6,360,000
第4题
ita Co’s retained earnings amounted to $90,000.
On 30 September 20X7, extracts from the statements of financial position of the two companies were:
What is the total equity which should appear in Anita Co’s consolidated statement of financial position as at 30 September 20X7?
A.$125,000
B.$470,000
C.$345,000
D.$537,500
第5题
January 20X6. The fair value of the non-controlling interest in Marek Co at acquisition was $1·1m. At that date the fair values of Marek Co’s net assets were equal to their carrying amounts, except for a building which had a fair value of $1·5m above its carrying amount and 30 years remaining useful life.
During the year to 31 December 20X6, Marek Co sold goods to Rooney Co, giving rise to an unrealised profit in inventory of $550,000 at the year end. Marek Co’s profit after tax for the year ended 31 December 20X6 was $3·2m.
What amount will be presented as the non-controlling interest in the consolidated statement of financial position of Rooney Co as at 31 December 20X6?
A.$1,895,000
B.$1,495,000
C.$1,910,000
D.$1,880,000
第6题
entory had a carrying amount of $600,000 but a fair value of $800,000. By 31 December 20X5, 70% of this inventory had been sold by Sanka Co.
The individual statements of financial position at 31 December 20X5 for both companies show the following:
What will be the total inventories figure in the consolidated statement of financial position of Patula Co as at 31 December 20X5?
A.$5,250,000
B.$5,330,000
C.$5,130,000
D.$5,238,000
第7题
Shiba Co entered into a non-cancellable four-year operating lease to hire a photocopier on 1 January 20X7. The terms of the lease agreement were as follows:
What is the charge in the statement of profit or loss of Shiba Co for the year ended 31 December 20X7 in respect of this operating lease?
A.$2,375
B.$4,000
C.$4,750
D.$5,250
第8题
The following two issues relate to Spiko Co’s mining activities:
Issue 1: Spiko Co began operating a new mine in January 20X3 under a five-year government licence which required Spiko Co to landscape the area after mining ceased at an estimated cost of $100,000.
Issue 2: During 20X4, Spiko Co’s mining activities caused environmental pollution on an adjoining piece of government land. There is no legislation which requires Spiko Co to rectify this damage, however, Spiko Co does have a published environmental policy which includes assurances that it will do so. The estimated cost of the rectification is $1,000,000.
In accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets, which of the following statements is correct in respect of Spiko Co’s financial statements for the year ended 31 December 20X4?
A.A provision is required for the cost of both issues 1 and 2
B.Both issues 1 and 2 require disclosure only
C.A provision is required for the cost of issue 1 but issue 2 requires disclosure only
D.Issue 1 requires disclosure only and issue 2 should be ignored
第9题
cently purchased investments in publically-traded equity shares:
Investment 1 – 10% of the issued share capital of Haruka Co. This shareholding was acquired as a long-term investment as Zinet Co wishes to participate as an active shareholder of Haruka Co.
Investment 2 – 10% of the issued share capital of Lukas Co. This shareholding was acquired for speculative purposes and Zinet Co expects to sell these shares in the near future.
Neither of these shareholdings gives Zinet Co significant influence over the investee companies.
Wherever possible, the directors of Zinet Co wish to avoid taking any fair value movements to profit or loss, so as to minimise volatility in reported earnings.
How should the fair value movements in these investments be reported in Zinet Co’s financial statements for the year ended 31 March 20X9?
A.In profit or loss for both investments
B.In other comprehensive income for both investments
C.In profit or loss for investment 1 and in other comprehensive income for investment 2
D.In other comprehensive income for investment 1 and in profit or loss for investment 2
第10题
se of its equipment.
Which of the following correctly reflects what this change represents and how it should be applied?
A.It is a change of accounting policy and must be applied prospectively
B.It is a change of accounting policy and must be applied retrospectively
C.It is a change of accounting estimate and must be applied retrospectively
D.It is a change of accounting estimate and must be applied prospectively
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