Post by Admin on Nov 12, 2014 2:01:04 GMT
1. The inventory of A plc was valued at $500,000( at cost) on January 10, 2013. The following transactions occurred between 31 December, 2012( the accounting year end) and January 10, 2013 -
January 3, 2013, inventory sold at cost plus 25% - $100,000
January 4, 2013 - Inventory purchased at cost - $70,000
January 7, 2013, sales returns - $20,000
REQUIRED
Calculate the closing inventory at 31 December, 2013.
2. A plc acquired 600,000 ordinary shares of B plc on January 1, 2012. B plc has $200,000 25c ordinary shares on that date.
REQUIRED
Calculate the percentage holding i.e. percentage acquired
3. A plc purchased a plant on 31, January, 2010 at a cost of $600,000. The asset has an expected useful life of 10 years. On January 1, 2012, the asset was impaired and the recoverable amount on that date was $420,000 while the remaining useful life was revised to 6 years.
REQUIRED
Calculate the total amount that will be charged to the statement of profit or loss for the year ended 31 December, 2012.
4. An item of property, plant and equipment with a carrying value of $500,000 and a remaining useful life of 5years on 1 October, 2011 became 'held for sale' on I January, 2012. Its fair value less cost of disposal at this date was $350,000. The remaining useful life of the asset remained unchanged.
REQUIRED
Calculate the total amount that will be charged to the statement of profit or loss for the year ended 30 September, 2012.
5. A plc' shareholders' equity at 1 January, 2013 was $500,000 and $750,000 at 31 December, 2013. The only reserve this company has is retained earnings. Profit for the year ended 31 December, 2013 was $450,000.
REQUIRED
Calculate the amount of dividend paid during the year.
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January 3, 2013, inventory sold at cost plus 25% - $100,000
January 4, 2013 - Inventory purchased at cost - $70,000
January 7, 2013, sales returns - $20,000
REQUIRED
Calculate the closing inventory at 31 December, 2013.
2. A plc acquired 600,000 ordinary shares of B plc on January 1, 2012. B plc has $200,000 25c ordinary shares on that date.
REQUIRED
Calculate the percentage holding i.e. percentage acquired
3. A plc purchased a plant on 31, January, 2010 at a cost of $600,000. The asset has an expected useful life of 10 years. On January 1, 2012, the asset was impaired and the recoverable amount on that date was $420,000 while the remaining useful life was revised to 6 years.
REQUIRED
Calculate the total amount that will be charged to the statement of profit or loss for the year ended 31 December, 2012.
4. An item of property, plant and equipment with a carrying value of $500,000 and a remaining useful life of 5years on 1 October, 2011 became 'held for sale' on I January, 2012. Its fair value less cost of disposal at this date was $350,000. The remaining useful life of the asset remained unchanged.
REQUIRED
Calculate the total amount that will be charged to the statement of profit or loss for the year ended 30 September, 2012.
5. A plc' shareholders' equity at 1 January, 2013 was $500,000 and $750,000 at 31 December, 2013. The only reserve this company has is retained earnings. Profit for the year ended 31 December, 2013 was $450,000.
REQUIRED
Calculate the amount of dividend paid during the year.
Send your answer to me directly on this website. Just click on message, from there, click on create message. The recipient is 'Admin' and send your answers.