FR 무료 덤프문제 온라인 액세스
| 시험코드: | FR |
| 시험이름: | Financial Reporting |
| 인증사: | CPA |
| 무료 덤프 문항수: | 80 |
| 업로드 날짜: | 2026-10-15 |
Bony plc purchased equipment on 1 April 2010 for $100,000. The equipment was depreciated using the reducing balance method at 25% per annum.
Bony plc prepares accounts to 31 March annually. Depreciation was charged up to and including 31 March 2012. At that date, the recoverable amount of this equipment was $42,000.
According to IAS 36 Impairment of Assets, what was the impairment loss on this equipment calculated on 31 March 2012?
NORMAN plc has one subsidiary. On 1 January 2012 NORMAN plc purchased 30% of the ordinary share capital of SEA Ltd for $12 million. Thesummarizedstatement of financial position of SEA Ltd as at 31 December 2012 was as follows.
$m
Net asset (at carrying amount)30
Ordinary share capital ($1 share)10
Retained earnings 1 January 201215
Net profit for the year ended 31 December 20125
At 1 January 2012 the fair value of the net assets of SEA Ltd was $5 million greater than their carrying amount. The difference, which has not been recorded in SEA Ltd's books, relates to land which is still owned by SEA Ltd at 31 December 2012.
At what amount should the investment in SEA Ltd be included in NORMAN plc's consolidated statement of financial position as at 31 December 2012?
A company is developing a new production process. During 2012, expenditure incurred was $100,000, of which $90,000 was incurred before 1 December 2012 and $10,000 between 1 December 2012 and 31 December 2012. The company can demonstrate that, at 1 December 2012, the production process met the criteria for recognition as an intangible asset. The recoverable amount of the know-how embodied in the process is estimated to be $50,000.
How should the expenditure be treated?
The management of Sage Ltd is considering in liquidating the company. The following assets and liabilities as at 31 March 2013 is in company's books:
(i)Plant and machinery: It represents carrying amount of $30,000 and can berealizedfor $15,000. The Plant and machinery had an estimated useful life of 10 years and have been used in business for 4 years.
(ii)Goodwill: A professional accountant has estimated the goodwill as $12,000.
(iii) Receivables: Receivables are all trade related which amounted to $15,000. It is estimated that an allowance against receivable of $1,000 would need to be made.
(iv) Cash at bank: The bank account shows a positive balance of $5,000.
(v)Payables: Trade accounts payable amounted to $6,000.
Which ONE of the following options, under breakup basis, is the correct amount that should be stated as net assets in the statement of financial position of Sage Ltd at 31 March 2013?
Sin plc is considering purchasing Lam Ltd, a subsidiary company of Jim Co. The result of such decision from the directors of Sin plc was because Lam Ltd produces a technically advanced computer microchip but unfortunately neither Lam Ltd nor Jim Co was successful. However, the director of marketing, Mr. Schulze Kidder, presented some factual areas in the board meeting and requested for further investigation before any final decisions are made. The areas are:
(i)The terms of trading between the entities to assess how much of the subsidiary's trade is recurring and whether it is on fair market terms.
(ii)The existence of debt between the parties.
(iii)The level of dividends payable as the subsidiary may have paid large dividends to the parent which may not be sustainable post sale.
Which of the above area(s) is / are not relevant when considering purchase of a subsidiary company like Lam Ltd?