第1题
Parket Co acquired 60% of Suket Co on 1 January 20X7. The following extract has been taken from the individual statements of profit or loss for the year ended 31 March 20X7: Parket Co Suket Co $'000 $'000 Cost of sales 710 480 Parket Co consistently made sales of $20,000 per month to Suket Co throughout the year. At the year end, Suket Co held $20,000 of this in inventory. Parket Co made a mark-up on cost of 25% on all sales to Suket Co. Using the drop down box select the correct figure for Parket Co's consolidated cost of sales for the year ended 31 March 20X7?
A、$954,000
B、$950,000
C、$774,000
D、$766,000
第2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3题
Parket Co made a mark-up on cost of 25% on all sales to Suket Co.
What is Parket Co’s consolidated cost of sales for the year ended 31 March 20X7?
A.$954,000
B.$950,000
C.$774,000
D.$766,000
第4题
What is the provision which Kalatra Co would report in its statement of financial position as at 30 September 20X5 in respect of its oil operations?
A、$32,400,000
B、$22,032,000
C、$20,400,000
D、$1,632,000
第5题
On 1 October 20X4, Flash Co acquired an item of plant under a five-year lease agreement. The plant had a cash purchase cost of $25m. The agreement had an implicit finance cost of 10% per annum and required an immediate deposit of $2m and annual rentals of $6m paid on 30 September each year for five years.
What is the current liability for the leased plant in Flash Co’s statement of financial position as at 30 September 20X5?
A、$19,300,000
B、$4,070,000
C、$5,000,000
D、$3,850,000
第6题
A.A 5.4%
B.B 7.2%
C.C 8.3%
D.D 8.8%
第7题
Premier Co acquired 80% of Sanford Co on 1 June 20X1. Sales from Sanford Co to Premier Co throughout the year ended 30 September 20X1 were consistently $1 million per month. Sanford Co made a mark-up on cost of 25% on these sales. At 30 September 20X1 Premier Co was holding $2 million inventory that had been supplied by Sanford Co in the post-acquisition period.By how much will the unrealised profit decrease the profit attributable to the non-controlling interest for the year ended 30 September 20X1?
A、$80,000
B、$82,000
C、$70,000
D、$72,000
第8题
Wetherby Co purchased a machine on 1 July 20X7 for $500,000. It is being depreciated on a straight-line basis over its expected life often years. Residual value is estimated at $20,000. On 1 January 20X8, following a change in legislation, Wetherby Co fitted a safety guard to the machine. The safety guard cost $25,000 and has a useful life of five years with no residual value.What amount will be charged to profit or loss for the year ended 31 March 20X8 in respect of depreciation on this machine?
A、$37,500
B、$37,250
C、$36,250
D、$35,000
第9题
Tourmalet Co sold an item of plant for $50 million on 1 April 20X4.The plant had a carrying amount of $40 million at the date of sale,which was charged to cost of sales. On the same date, Tourmalet Co entered into an agreement to lease back the plant for the next five years (being the estimated remaining life of the plant) at a cost of $14 million per annum payable annually in arrears. An arrangement of this type is normally deemed to have a financing cost of 10% per annum. Tourmalet Co retained the rights to direct the use of and retain substantially all the remaining benefits from the plant. Using the drop down box, select what amount will be shown as income from this transaction in the statement of profit or loss for the year ended 30 September 20X4?
A、Nil
B、$10 million
C、$40 million
D、$50 million
第10题
Which journal entry is required to reflect the correct accounting treatment of the government grant and the equipment in the financial statements of Gardenbugs Co for the year ended 31 December 20X7?
A.A
B.B
C.C
D.D
第11题
Trasten Co operates in an emerging market with a fast-growing economy where prices increase 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
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