At 31 December 2015 the following require inclusion in a company’s separate financial statements:(1) In January 2016 the company received USD6,000 for management charges from a subsidiary company covering the six months to 31 December 2015.(2) On 1 January 2015 the company made a loan of USD9,000 to an associate, repayable on 1 January 2016, charging interest at 3% per year. On the due date the loan, together with the whole of the interest due was repaid.(3) The company has paid USD12,000 in 2015 for software licences covering the year ending 31 July 2016.For these items, what total figure should be included in current assets in the company’s separate statement of financial position at 31 December 2015?

1 .On 1 January 2015, Jarndyce acquired 80% of the ordinary share capital of Skimpole for USD576,000.The statements of financial position of the two companies at 31 December 2015 were as follows: Jarndyce Skimpole USD000 USD000 Net assets 468 432 Investment in Skimpole 576 — ——— ——— 1,044 432 ——— ——— Issued share capital 720 180 Retained earnings At 31 December 2014 144 108 Profit for 2015 180 144 ——— ——— 1,044 432 ——— ——— Non-controlling interest is valued at fair value on acquisition, which was USD140,000. There has been no impairment of goodwill since the acquisition took place.What is the non-controlling interest in the consolidated statement of financial position of Jarndyce as at 31 December 2015?

A USD86,400 B USD140,000 C USD168,800 D USD201,600

题型: 单选题 提问时间: 2021-08-24

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2 .Venus acquired 75% of Mercury’s 100,000 USD1 ordinary share capital on 1 November 2014. The consideration consisted of USD2 cash per share and 1 share in Venus for every 1 share acquired in Mercury. Venus shares have a nominal value of USD1 and a fair value of USD1.75. The fair value of the non-controlling interest was USD82,000 and the fair value of net assets acquired was USD215,500.What should be recorded as goodwill on acquisition of Venus in the consolidated financial statements?

A USD16,500 B USD63,375 C USD91,500 D USD147,750

题型: 单选题 提问时间: 2021-08-24

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3 .On 30 June 2011 Petra acquired 90% of the share capital of Sabu. The non-controlling interest had a fair value of USD450,000.Extracts from the statements of financial position of Sabu at 30 June 2011 and 30 June 2015 are shown below: 30 June 2011 30 June 2015 USD USD Ordinary share capital 800,000 800,000 Share premium account 200,000 200,000 Retained earnings 3,200,000 4,000,000 What figure for non-controlling interest should appear in the consolidated statement of financial position as at 30 June 2015?

A USD420,000 B USD450,000 C USD500,000 D USD530,000

题型: 单选题 提问时间: 2021-08-24

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4 .On 1 April 2010, Woolwich paid USD816,000 for 80% of Malta’s USD408,000 share capital. Malta’s retained earnings at that date were USD476,000. At 31 March 2016 the retained earnings of the companies are: USD000 Woolwich 1,224 Malta 680 Woolwich’s inventory includes goods purchased from Malta for USD18,000. Malta makes a profit at 20% on the cost of all goods sold to Woolwich.What are the retained earnings in the consolidated statement of financial position of Woolwich as at 31 March 2016?

A USD1,384,320 B USD1,384,800 C USD1,387,200 D USD1,439,200

题型: 单选题 提问时间: 2021-08-24

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5 .Bram owns 70% of the shares in Stoker. Bram has payables of USD244,000. Stoker has payables of USD40,000 of which USD6,000 is owed to Bram. Bram has receivables of USD360,000 and Stoker has receivables of USD150,000.What amounts should be recorded for consolidated receivables and payables in the group accounts of Bram?

A Payables USD278,000; Receivables USD504,000 B Payables USD278,000; Receivables USD516,000 C Payables USD290,000; Receivables USD504,000 D Payables USD290,000; Receivables USD516,000

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7 .Which of the following statements regarding accounting for associates is true?(1) Any goodwill relating to an associate is included in the carrying amount of the investment.(2) An investment in an associate is accounted for using the equity method from the end of the reporting period in which the associate is acquired.

A Neither statement B Statement 1 only C Statement 2 only D Both statements

题型: 单选题 提问时间: 2021-08-24

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8 .At 1 July 2015 Kipper acquired 25% of the ordinary share capital of Pike for USD960,000 when the retained earnings of Pike were USD1,080,000. Pike appointed two of Kipper’s directors to the board of Pike.Both companies prepare financial statements to 31 May each year. The summarised statement of financial position for Pike at 31 May 2016 is as follows: USD000 Called-up share capital 1,200 Share premium account 675 Retained earnings 1,710 ——— 3,585 ——— Pike has not issued any new shares since Kipper acquired its holding.What amount of investment in Pike will appear in the consolidated statement of financial position of Kipper at 31 May 2016?

A USD896,250 B USD960,000 C USD1,117,500 D USD1,387,500

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9 .During the last three years Harvert had held 400,000 ordinary shares in Jamee. The issued share capital of Jamee is USD500,000 in shares of 50 cents each. The finance director of Harvert is also a director of Jamee.How should the investment in Jamee be treated in the consolidated financial statements of Harvert?

A As a non-current asset investment B As a current asset investment C As an associate D As a subsidiary

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10 .Which of the following are reasons why financial statement analysis is useful to investors?(1) To monitor current investments or to plan future ones(2) Because past performance is often a good indicator of future performance(3) Because future trends can then be accurately predicted(4) To assess the risk associated with their expected returns

A 1, 2 and 3 only B 1, 2 and 4 only C 1, 3 and 4 only D 2, 3 and 4 only

题型: 单选题 提问时间: 2021-08-24

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