快速查题-ACCA英国注册会计师试题

​​​​​​​

​​​​​​​

Additional information

(a)   Black purchased its $1 ordinary shares in Bury on 1 November 20X0. At that date the balance on Bury's retained earnings was $2 million. The fair value of the non-controlling interest at the date of acquisition was $11,800,000. Goodwill on acquisition was $800,000.

(b)   During the year ended 31 October 20X5 Black sold goods which originally cost $12 million to Bury. Black invoiced Bury at cost plus 40%. Bury still has 30% of these goods in inventory at 31 October 20X5.

(c)   Bury owed Black $1.5 million at 31 October 20X5 for some of the goods Black supplied during the year.

The following information is also available.

(a)   Prestend purchased 2,800,000 shares in Northon a year ago when Northon had retained earnings of $60,000. The fair value of the non-controlling interest at the date of acquisition was $1,415,000.

(b)   During the year Prestend sold goods with an invoice value of $240,000 to Northon. These goods were invoiced at cost plus 20%. Half of the goods are still in Northon's inventory at the year end.

(c)   Northon owes Prestend $30,000 at 31 October 20X7 for goods it purchased during the year.

The summarised statements of profit or loss of two companies, Liverton and Everpool, for the year ended 31 May 20X6 are provided below. Liverton acquired 3,000,000 ordinary shares in Everpool for $3,500,000 on 1 June 20X4. At that time, the retained earnings of Everpool were $200,000 and the fair value of the noncontrolling interest in Everpool was $1,000,000.

STATEMENTS OF PROFIT OR LOSS FOR THE YEAR ENDED 31 MAY 20X6

                                                                                                                       Liverton                               Everpool

                                                                                                                          $'000                                    $'000

Sales revenue                                                                                                6,400                                    2,600

Cost of sales                                                                                               (3,700)                                  (1,450)

Gross profit                                                                                                     2,700                                    1,150

Distribution costs                                                                                         (1,100)                                    (490)

Administrative expenses                                                                                (700)                                    (320)

Profit from operations                                                                                      900                                        340

Dividends received from Everpool                                                                150                                          --

Profit before tax                                                                                              1,050                                        340

Tax                                                                                                                     (400)                                       (80)

Profit for the year                                                                                               650                                        260

The following information is also available.

(a)    Everpool's total share capital consists of 4,000,000 ordinary shares of $1 each.

(b)    During the year ended 31 May 20X6 Liverton sold goods costing $110,000 to Everpool for $200,000. At 31 May 20X6, 60% of these goods remained in Everpool's inventory.

​​​​​​​