CPA Financial Reporting 認定 FR 試験問題:

1. On 1 January 2012, Viceroy Co entered into a finance lease agreement to obtain a machine which would have cost $166,000 if it had been purchased outright. The machine has a useful life of five years, and the lease period is six years. At the end of the lease period, the machine will be returned to thelesser. As well as requiring a final payment, the terms of the lease are:
Initial rental$8,000
Monthly rentals, payable in arrears60 x $3,200
Interest rate implicit in lease8% per annum
Viceroy has a 31 December year end, and provides for depreciation on machinery on the straight-line basis.
How much should be charged in the statement of profit or loss for the year to 31 December 2012 as a result of the lease agreement?

A) $40,947
B) $46,480
C) $45,840
D) $40,307

2. POXITplc controls another entity, DOBE Ltd, owning 60% of that company's ordinary share capital. At the group's year end, 31 December 2012, DOBE Ltd included $6,000 in its receivables in respect of goods supplied to POXIT plc. However, the payables of POXITplc included only $4,000 in respect of amounts due to DOBE Ltd. The difference arose because, on 31 December 2012, POXITplc sent a cheque for $2,000 to DOBE Ltd, which was not received by DOBE Ltd until 3 January 2013.
Which of the following sets of consolidation adjustments to current assets and current liabilities is correct?

A) Deduct $6,000 from consolidated receivables and $4,000 from consolidated payables, and include cash in transit of $2,000
B) Deduct $6,000 from consolidated receivables and $4,000 from consolidated payables, and include inventories in transit of $2,000
C) Deduct $6,000 from both consolidated receivables and consolidated payables
D) Deduct $3,600 from both consolidated receivables and consolidated payables

3. Arnold Ltd bought an asset on 1 October 20X1 for $200,000. It was being depreciated over 20 years on the straight-line basis. On 1 October 20X3, the asset was revalued to $270,000. Subsequently, on 30 September 20X7 the asset was classified as held for sale. Its fair value was estimated at $190,000 with costs to sell $5,000.
In accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, what should be the lossrecognizedin the statement of profit or loss for the year ended 30 September 20X7?

A) $20,000
B) $Nil
C) $25,000
D) $5,000

4. IAS 19 is intended to prescribe when the cost of employee benefits should berecognizedas a liability or an expense and the amount of the liability or expense that should berecognized.
Which of the following statements regarding IAS 19 is correct?
i)A liability should berecognizedwhen an employee has provided a service in exchange for benefits to be received by the employee at some time in the future.
ii)An expense should berecognizedwhen the entity enjoys the economic benefits from a service provided by an employee regardless of when the employee received or will receive the benefits from providing the service.

A) (i) and (ii) both are correct
B) (i) is incorrect but (ii) is correct
C) (i) is correct but (ii) is incorrect
D) (i) and (ii) both are incorrect

5. Wayne plc acquired 75% of Bruce Ltd during the year to 30.6.13 by issuing 200,000 of its own shares and paying the balance in cash. Wayne plc shares were trading at $1.25 at the date of the acquisition. At acquisition Bruce Ltd had net assets of $360,000 including cash and cash equivalents of $24,000. All of Bruce Ltd's assets and liabilities were recorded at fair value except for a property which had a fair value $100,000 in excess of its carrying amount. Goodwill arising on the acquisition was $50,000. You are preparing the note to the consolidated statement of cash flows of Wayne plc for the year ended 30.6.13 showing the effects of the acquisition of Bruce Ltd.
What will be the net cash outflow shown by the note?

A) $119,000
B) $121,000
C) $94,000
D) $145,000

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