F3名习题_ACCA英国注册会计师

P owns 80% of the equity share capital of S The profit after tax of S for the year ended 31 December 20X6 was $60 million.

During 20X6, P sold goods to S for $4 million at cost plus 20%. At the year end 50% of these goods were left in the inventory

of S.

What is non-controlling interest share of the after-tax profit of S for the year ended 31 December 20X6?

A

$11.36 million

B

$11.6 million

C

$11.68 million

D

$12 million

材料全屏

The draft statement of financial position shown below has been prepared for Shuswap, a limited liability company, as at 31 December 20X4：

Accumulated Carrying

Cost depreciation value

$'000 $'000 $'000

Assets

Non-current assets

Land and buildings 9,000 1,000 8,000

Plant and equipment 21,000 9,000 12,000

30,000 10,000 20,000

Current assets

Inventories 3,000

Receivables 2,600

Cash at bank 1,900

Total assets 27,500

Equity and liabilities

Equity

Issued share capital (ordinary shares of 50c each) 6,000

Retained earnings 12,400

Non-current liabilities

Loan notes (redeemable 20Y0) 2,000

Current liabilities

Trade payables 2,100

22,500

Suspense account 5,000

27,500

The following further information is available:

1 It has been decided to revalue the land and buildings to $12,000,000 at 31 December 20X4.

2 Trade receivables totalling $200,000 are to be written off.

3 During the year there was a contra settlement of $106,000 in which an amount due to a supplier was set off against the amount due from the same company for goods sold to it. No entry has yet been made to record the set-off.

4 Some inventory items included in the draft statement of financial position at cost $500,000 were sold after the reporting date for $400,000, with selling expenses of $40,000.

5 The suspense account is made up of two items：

(a) The proceeds of issue of 4,000,000 50c shares at $1.10 per share, credited to the suspense account from the cash book.

(b) The balance of the account is the proceeds of sale of some plant on 1 January 20X4 with a carrying amount at the date of sale of $700,000 and which had originally cost $1,400,000. No other accounting entries have yet been made for the disposal apart from the cash book entry for the receipt of the proceeds. Depreciation on plant has been charged at 25% (straight line basis) in preparing the draft statement of financial position without allowing for the sale. The depreciation for the year relating to the plant sold should be adjusted for in full.

57

【论述题】

Prepare the journal entries to clear the suspense account.

Prepare the company's statement of financial position as at 31 December 20X4, complying as far as possible with IAS 1 Presentation of financial statements. Details of non-current assets, adjusted appropriately, should appear as they are presented in the question.

材料全屏

You are presented with the following trial balance of Malright, a limited liability company, at 31 October 20X7.

Dr Cr

$'000 $'000

Buildings at cost 740

Buildings, accumulated depreciation, 1 November 20X6 60

Plant at cost 220

Plant, accumulated depreciation, 1 November 20X6 110

Land at cost 235

Bank balance 50

Revenue 1,800

Purchases 1,105

Discounts received 90

Returns inwards 35

Wages 180

Energy expenses 105

Inventory at 1 November 20X6 160

Trade payables 250

Trade receivables 320

Administrative expenses 80

Allowance for receivables, at 1 November 20X6 10

Directors' remuneration 70

Retained earnings at 1 November 20X6 130

10% loan notes 50

Dividend paid 30

$1 ordinary shares 650

Share premium account 80

3,280 3,280

Additional information as at 31 October 20X7:

(a) Closing inventory has been counted and is valued at $75,000.

(b) The items listed below should be apportioned as indicated.

Cost of Distribution Administrative

sales costs expenses

% % %

Discounts received -- -- 100

Energy expenses 40 20 40

Wages 40 25 35

Directors' remuneration -- -- 100

(c) An invoice of $15,000 for energy expenses for October 20X7 has not been received.

(d) Loan note interest has not been paid for the year.

(e) The allowance for receivables is to be increased to the equivalent of 5% of trade receivables. Anyexpenses connected with receivables should be charged to administrative expenses.

(f) Plant is depreciated at 20% per annum using the reducing balance method. The entire charge is to be allocated to cost of sales.

(g) Buildings are depreciated at 5% per annum on their original cost, allocated 30% to cost of sales, 30% to distribution costs and 40% to administrative expenses.

(h) Income tax has been calculated as $45,000 for the year.

59

【论述题】

The statement of profit or loss for the year ended 31 October 20X7

The statement of changes in equity for the year ended 31 October 20X7

The statement of financial position as at 31 October 20X7

材料全屏

The following information has been extracted from the books of Tonson, a limited liability company, as at 31 October 20X6.

Dr Cr

$'000 $'000

Cash 15

Insurance 75

Inventory at 1 November 20X5 350

General expenses 60

Energy expenses 66

Marketing expenses 50

Wages and salaries 675

Discounts received 50

Share premium account 200

Retained earnings at 1 November 20X5 315

Allowance for receivables at 1 November 20X5 40

Sales revenue 5,780

Telephone expenses 80

Property expenses 100

Bank 94

Returns inward 95

Trade payables 290

Loan note interest 33

Trade receivables 900

Purchases 3,570

7% loan notes 470

Irrecoverable debts 150

$1 ordinary shares 1,800

Accumulated depreciation at 1 November 20X5

Buildings 360

Motor Vehicles 80

Furniture and equipment 420

Land at cost 740

Buildings at cost 1,500

Motor vehicles at cost 240

Furniture and equipment at cost 1,200

9,899 9,899

You have also been provided with the following information:

(a) Inventory at 31 October 20X6 was valued at $275,000 based on its original cost. However, $45,000 of this inventory has been in the warehouse for over two years and the directors have agreed to sell it in November 20X6 for a cash price of $20,000.

(b) The marketing expenses include $5,000 which relates to November 20X6.

(c) The allowance for receivables is to be increased to the equivalent of 5% of trade receivables.

(d) There are wages and salaries outstanding of $40,000 for the year ended 31 October 20X6.

(e) Buildings are depreciated at 5% of cost. At 31 October 20X6 the buildings were professionally valued at $1,800,000 and the directors wish this valuation to be incorporated into the financial statements.

(f) Depreciation is to be charged as follows:

(i) Motor vehicles at 20% of carrying amount

(ii) Furniture and equipment at 20% of cost

(g) No dividends have been paid or declared.

(h) Tax of $150,000 is to be provided for the year.

(i) During October 20X6 a bonus issue of one for ten shares was made to ordinary shareholders. This has not been entered into the books. The share premium account was used for this purpose.

62

【论述题】

The statement of profit or loss for the year ended 31 October 20X6

The statement of financial position as at 31 October 20X6

During the year dividends paid were $270,000.

The following information is available for Sioux, a limited liability company：Statements of financial position

1 During the year non-current assets which had cost $800,000, with a carrying amount of $350,000, were sold for $500,000.

2 The revaluation surplus arose from the revaluation of some land that was not being depreciated.

3 The 20X3 income tax liability was settled at the amount provided for at 31 December 20X3.

4 The additional loan notes were issued on 1 January 20X4. Interest was paid on 30 June 20X4 and 31 December 20X4.

5 Dividends paid during the year amounted to $750,000.

Prepare the company's statement of cash flows for the year ended 31 December 20X4, using the indirect method, adopting

the format in IAS 7 Statement of cash flows.

快速查题-ACCA英国注册会计师试题