Holly has a 30% holding in Johnson which allows Holly to exert significant influence over Johnson. During the current year Holly sold goods to Johnson for USD15,000; Holly applies a mark-up of 25% on cost. Johnson still held half of these goods in inventory at the year end.What is the amount of unrealised profit that will be reflected in Holly’s consolidated financial statements for the current year?
参考答案(由小熊题库网聘请的专业题库老师提供的解答)
请点击↑↑↑ 查看官方参考答案 按钮
习题解析
请点击 查看官方参考答案 按钮
您可能感兴趣的题目
1 .The HC group acquired 30% of the equity share capital of AF on 1 July 20X0 paying USD25,000.At 1 April 20X0 the equity of AF comprised: USDUSD1 equity shares 50,000Share premium 12,500Retained earnings 10,000AF made a profit for the year to 31 March 20X1 (prior to dividend distribution) of USD6,500 and paid a dividend of USD3,500 to its equity shareholders. Profits accrue evenly throughout the year.What amount of income from associate will be included in the consolidated statement of profit or loss for the year ended 31 March 20X1?
A USD675 B USD900 C USD1,462.50 D USD1,950
2 .The HY group acquired 35% of the equity share capital of SX on 1 July 20X0 paying USD70,000. This shareholding enabled HY group to exercise significant influence over SX.At 1 July 20X0 the equity of SX comprised: USDUSD1 equity shares 100,000Retained earnings 50,000SX made a profit for the year ended 30 June 20X1 (prior to dividend distribution) of USD130,000 and paid a dividend of USD80,000 to its equity shareholders.What amount should be shown in HY’s consolidated statement of financial position at 30 June 20X1 for the investment in associate?
A USD115,500 B USD98,000 C USD87,500 D USD70,000
3 .Which of the following statements regarding the equity method of accounting is true?(1) An investment in an associate is always carried at cost.(2) An investor recognises its share of the associate’s profit or loss in consolidated profit or loss.
A Neither statement B Statement 1 only C Statement 2 only D Both statements
4 .Which of the following could provide evidence of “significant influence”?(1) 51% of the voting power of the investee.(2) interchange of management personnel.(3) participation in decisions about dividends.(4) provision of essential technical information.
A 1, 2 and 3 only B 1, 2 and 4 only C 1, 3 and 4 only D 2, 3 and 4 only
5 .Inveresk has equity shareholdings in three other companies, as shown below, and has a seat on the board of each: Inveresk Other shareholdersRaby 40% No other holdings larger than 10%Seal 30% Another company holds 60% of Seal’s equityToft 15% Two other companies hold respectively 50% and 35% of Toft’s equity, and each has a seat on its board. Inveresk exerts significant influence over ToftWhich of the above shareholdings are associated undertakings of Inversk?
A Raby only B Raby and Seal C Raby and Toft D Raby, Seal and Toft
7 .An entity that fixes prices by adding 50% to cost actually achieved a mark-up of 45%.Which of the following factors could account for the shortfall?
A Sales were lower than expected B Opening inventories had been overstated C Closing inventories were higher than opening inventories D Purchases were higher than expected
8 .Which of the following factors could cause a company’s gross profit percentage on sales to fall below the expected level?
A Overstatement of closing inventories B The incorrect inclusion in purchases of invoices relating to goods supplied in the following period C The inclusion in sales of the proceeds of sale of non-current assets D Trade discounts offered to customers were lower than expected
9 .Which of the following are true of trend analysis?(1) It uses changes in monetary amount and percentage terms to identify patterns.(2) It concentrates on the relative size of current assets.(3) It examines changes over time.(4) It examines the relationships of percentage changes to each other.
A 1 and 3 only B 1 and 4 only C 2 and 3 only D 2 and 4 only
10 .Gormenghast’s current ratio has been calculated as 1.2. However, it has now been discovered that closing inventory has been understated by USD24,000 and opening inventory has been overstated by USD24,000.How did these misstatements affect the calculations of Gormenghast’s current ratio and inventory days?
A Current ratio:Too high ; Inventory days:Too high B Current ratio:Too high ; Inventory days:Too low C Current ratio:Too low ; Inventory days:Too high D Current ratio:Too low ; Inventory days:Too low
