Mork has disclosed basic EPS figure for the year of 32 cents, this is based on 500,000 ordinary shares being in issue for the whole year.Mork also has USD100,000 8% convertible debt in issue at the year end. The conversion rights allow the holders to convert their debt into equity on a basis of 5 shares for every USD4 of debt.Mork pays income tax at a rate of 30%.What figure should Mork report for its diluted earnings per share?

1 .In the year to 30 November the retained profit of Dale was USD3,640,500. This was after paying dividends as follows:Ordinary: 5 cents per share on 1·5 million shares Preference: 7 cents per share on 600,000 shares What figure will be reported for basic earnings per share as defined in IAS 33 Earnings per Share?

A 173·4 cents B 176·9 cents C 242·7 cents D 247·7 cents

题型: 单选题 提问时间: 2021-08-24

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2 .Reploy has reported a profit before interest and tax of USD728,654 for the last financial year.The company’s profit or loss statement reports an interest charge of USD45,860, a tax charge of USD158,740 whilst the statement of changes in equity shows that an ordinary dividend of USD50,000 was paid. The company’s issued ordinary share capital is USD500,000 in USD1 shares.What figure should be reported for earnings per share?

A 94·8 cents B 104·8 cents C 136·6 cents D 145·7 cents

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3 .The financial statements of Epis Group showed that retained earnings had increased in the year by USD689,424. The following items were presented by Epis in either the statement of profit or loss for the year or in the statement of changes in equity:　USDInterest 84,441Taxation 227,553Non-controlling interest 47,338Ordinary dividend （10 cents per share） 65,000What figure should be reported in the financial statements for basic earnings per share, to the nearest cent?

A 10 cents B 113 cents C 116 cents D 123 cents

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4 .The most recent income statement of Waylor reported a profit before tax of USD125,800 and a tax expense of USD22,400. Half way through the year the company had issued 40,000 bonus shares which brought the total number of shares in issue to 440,000.What figure should be reported for earnings per share?

A 23·5 cents B 24·7 cents C 28·6 cents D 29·9 cents

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5 .Jubilee reported profit after tax for the period of USD160,000 and it had 1,000,000 ordinary shares in issue for the whole year.Jubilee had a number of exercisable share options outstanding at the year end. Holders of the options were entitled to buy 50,000 new shares for USD1.60. The average market price of Jubilee’s shares for the previous 12 months was USD2.What figure should Jubilee report for its diluted earnings per share?

A 15.2 cents B 15.4 cents C 15.8 cents D 16 cents

题型: 单选题 提问时间: 2021-08-24

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7 .Digger commenced contract X47 on 1 July 20X3. Performance obligations under the contract are to be satisfied over time and the stage of completion is regularly assessed. Details for the first year of the contract were as follows: USD Amounts invoiced Costs incurred at date of 2,400 last assessment 1,800 Costs incurred since last assessment 200 Amounts received 2,100 Total contract price 4,200 Estimated costs to complete 1,200 Survey of performance completed 2,520 The company invoices the customer immediately it receives an assessment of the value of the work done.What should Digger include as cost of sales for the X47 contract for the year ended 30 June 20X4, assuming revenue is based on performance completed?

A USD1,800,000 B USD1,828,000 C USD1,920,000 D USD2,000,000

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8 .Augustus is involved in a number of contracts at 30 September 20X3, the contracts have been assessed as contracts where the performance obligation is satisfied over a period of time. The company calculates revenue on an output basis using the value of performance completed.At that date the following information is available with respect to contract ZX45: USD Contract price 225 Costs incurred to date 115 Estimated further costs to completion 65 Survey of performance completed 125 Amounts invoiced and paid by customer 145 This contract is with a new customer. Augustus required the customer to pay an up-front deposit that is included in the amounts invoiced and paid.What amount should be included in the statement of financial position of Augustus in respect of contract ZX45 as at 30 September 20X3?

A Nil B USD5,000 liability C USD5,000 asset D USD20,000 liability

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9 .B entered into a three-year contract to build a leisure centre for an entity. The contract value was USD 6 million. B recognises profit on the basis of certified work completed.At the end of the first year, the following figures were extracted from B's accounting records:　USD 000Certified value of work completed （progress payments billed） 2,000Cost of work certified as complete 1,650Cost of work-in-progress （not included in completed work） 550Estimated cost of remaining work required to complete the contract 2,750Progress payments billed and received from entity 1,600Cash paid to suppliers for work on the contract 1,300What values should B record for this contract as “gross amounts due from customers” and “current liabilities – trade and other payables”?

A Gross amounts due from customers：USD 950,000；Current liabilities – trade and other payables：USD 350,000 B Gross amounts due from customers：USD 950,000；Current liabilities – trade and other payables：USD 900,000 C Gross amounts due from customers：USD 1,250,000；Current liabilities...

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10 .C started work on a four-year contract on 24 October 20X1. C recognises profit on the basis of the certified percentage of work completed. The contract price is USD 10 million.An analysis of C’s records provided the following information for the year to 30 September 20X3:Percentage of work completed and certified in year 25% Total cost incurred during the year USD 1,700,000Estimated cost of remaining work to complete contractUSD 3,900,000Total payments made for the cost incurred during the year USD 2,000,000In the year ended 30 September 20X2 costs of USD 2,900,000 had been incurred, the contract was 30% complete and a profit of USD 330,000 had been recognised.How much profit should C recognise in its statement of profit or loss for the year ended 30 September 20X3?

A USD 330,000 B USD 375,000 C USD 495,000 D USD 825,000

题型: 单选题 提问时间: 2021-08-24

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