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[主观题]

On 1 October 20X1, Bash Co borrowed $6m for a term of one year, exclusively to finance the

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

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更多“On 1 October 20X1, Bash Co bor…”相关的问题

第1题

On 1 October 20X5, Anita Co purchased 75,000 of Binita Co’s 100,000 equity shares when Bin

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

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第2题

Rooney Co acquired 70% of the equity share capital of Marek Co, its only subsidiary, on 1

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

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第3题

Patula Co acquired 80% of Sanka Co on 1 October 20X5. At this date, some of Sanka Co’s inv

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

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第4题

Shiba Co entered into a non－cancellable four－year operating lease to hire a photocopier on

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

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第5题

The following two issues relate to Spiko Co’s mining activities:Issue 1: Spiko Co began op

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

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第6题

Included within the financial assets of Zinet Co at 31 March 20X9 are the following two re

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

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第7题

A company has decided to change its depreciation method to better reflect the pattern of u

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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第8题

On 1 January 20X6, Gardenbugs Co received a $30,000 government grant relating to equipment

which cost $90,000 and had a useful life of six years. The grant was netted off against the cost of the equipment. On 1 January 20X7, when the equipment had a carrying amount of $50,000, its use was changed so that it was no longer being used in accordance with the grant. This meant that the grant needed to be repaid in full but by 31 December 20X7, this had not yet been done.

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

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第9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 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.

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

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第10题

Which of the following will be treated as a subsidiary of Poulgo Co as at 31 December 20X7

(1) The acquisition of 60% of Zakron Co’s equity share capital on 1 March 20X7. Zakron Co’s activities are significantly different from the rest of the Poulgo group of companies

(2) The offer to acquire 70% of Unto Co’s equity share capital on 1 November 20X7. The negotiations were finally signed off during January 20X8

(3) The acquisition of 45% of Speeth Co’s equity share capital on 31 December 20X7. Poulgo Co is able to appoint three of the ten members of Speeth Co’s board

A.1 only

B.2 and 3

C.3 only

D.1 and 2

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