Fanta Co acquired 100% of the ordinary share capital of Tizer Co on 1 October 20-新东方在线职业题库

新东方在线题库 > ACCA英国注册会计师试题 > F3 > Chapter20-23 > Fanta Co a...

Fanta Co acquired 100% of the ordinary share capital of Tizer Co on 1 October 20X7.

On 31 December 20X7 the share capital and retained earnings of Tizer Co were as follows:

$'000

Ordinary shares of $1 each 400

Retained earnings at 1 January 20X7 100

Retained profit for the year ended 31 December 20X7 80

580

The profits of Tizer Co have accrued evenly throughout 20X7. Goodwill arising on the acquisition of Tizer Co was $30,000.

What was the cost of the investment in Tizer Co?

A

$400,000

B

$580,000

C

$610,000

D

$590,000

Chapter23Introductiontoconsolidatedfinancialstatements

$000

Fair value of net assets acquired: 400

Ordinary shares 100

Retained earnings at 1 January 20X7 60

Retained earnings for 9 months to acquisition date (80 x 9/12) 560

Add goodwill 30

590

多做几道

Which of the following is a ratio which is used to measure how much a business owes in relation to its size?

A

Asset turnover

B

Profit margin

C

Gearing

D

Return on capital employed

A business operates on a gross profit margin of 331/3%. were $680. Gross profit on a sale was $800, and expenses

What is the net profit margin?

A

3.75%

B

5%

C

11.25%

D

22.67%

A company has the following details extracted from its statement of financial position：

$'000

Inventories 1,900

Receivables 1,000

Bank overdraft 100

Payables 1,000

The industry the company operates in has a current ratio norm of 1.8. Companies who manage liquidity well in this industry

have a current ratio lower than the norm.

Which of the following statements accurately describes the company’s liquidity position?

A

Liquidity appears to be well managed as the bank overdraft is relatively low

B

Liquidity appears to be poorly-controlled as shown by the large payables balance

C

Liquidity appears to be poorly-controlled as shown by the company’s relatively high current ratio

D

Liquidity appears to be poorly-controlled as shown by the existence of a bank

Why is analysis of financial statements carried out?

A

So that the analyst can determine a company’s accounting policies

B

So that the significance of financial statements can be better understood through comparisons

with historical performance and with other companies

C

To get back to the ‘real’ underlying figures, without the numbers being skewed by the

requirements of International Financial Reporting Standards

D

To produce a report that can replace the financial statements, so that the financial statements

no longer need to be looked at

Which of the following transactions would result in an increase in capital employed?

A

Selling inventory at a profit

B

Writing off a bad debt

C

Paying a payable in cash

D

Increasing the bank overdraft to purchase a non-current asset

最新试题

该科目易错题

该题目相似题

Which accounting concept states that omitting or misstating this information could influence users of the financial statements?AThe consistency conceptBThe accruals concept CThe materiality conceptDThe going concern concept
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material errorA1 and 2B2 and 3C 1 and 4D3 and4
The profit made by a business in 20X7 was $35,400. The proprietor injected new capital of $10,200 during the year and withdrew a monthly salary of $500.If net assets at the end of 20X7 were $95,100, what was the proprietor's capital at the beginning of the year？A $50,000B$55,500C$63,900D$134,700
The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to31 December 20X2 Altese introduced a further $50,000 of capital and made drawings of $48,000. At 31 December 20X2 Altese's net assets totalled $184,000.What is Altese's total profit or loss for the year ended 31 December 20X2?A$54,000 profitB$54,000 lossC$42,000 lossD$58,000 profit
A company’s motor vehicles at cost account at 30 June 20X6 is as follows MOTOR VEHICLES - COST $ $Balance b/d 150,500Disposal 85,000Addition 120,950 Balance c/d 186,450 271,450 271,450What opening balance should be included in the following period’s trial balance for motor vehicles - cost at 1 July 20X6?A$271,450 CRB$271,450 DRC$186,450 CRD$186,450 DR
A firm has the following transactions with its product R.1 January 20X1 Opening inventory：I February 20X1 nil Buys 10 units at $300 per unitIIFebruary 20X1 1 April 20X1 Buys 12 units at $250 per unit1 August 20X1 1 December 20X1 Sells 8 units at $400 per unitBuys 6 units at $200 per unit Sells 12 units at $400 per unitThe firm uses periodic weighted average cost (AVCO) to value its inventory.What is the inventory value at the end of the year?A$nilB$2,057.12C$2,400.00D$2,007.20
Evans Co purchased a machine with an estimated useful life of 10 years for $76,000 on 30 September 20X5. The machine had a residual value of $16,000.What are the ledger entries to record the depreciation charge for the machine in the year ended 30 September 20X8?ADr Depreciation charge $6,000 Cr Accumulated depreciation $6,000BDr Depreciation charge $6,000 Dr Non-current assets $12,000Cr Accumulated depreciation $18,000 CDr Accumulated depreciation $6,000 Cr Depreciation charge $6,000 DDr Accumulated depreciation $18,000 Cr Non-current assets $18,000
The trainee accountant at Judd Co has forgotten to make an accrual for rent for December in thefinancial statements for the year ended 31 December 20X2. Rent is charged in arrears at the end of February, May, August and November each year. The bill payable in February is expected to be $30,000. Judd Co’s draft statement of profit or loss shows a profit of $25,000 and draft statement of financial position shows net assets of $275,000.What is the profit or loss for the year and what is the net asset position after the accrual has been included in the financial statements?Profit for the year Net asset positionA$15,000 $265,000B$15,000 $285,000C$35,000 $265,000 D$35,000 $285,000
The debit side of a trial balance totals $800 more than the credit side.Which one of the following errors would fully account for the difference?A$400 paid for plant maintenance has been correctly entered in the cash book and credited to the plant asset account.BDiscount received $400 has been debited to discount allowed account.CA receipt of $800 for commission receivable has been omitted from the recordsDThe petty cash balance of $800 has been omitted from the trial balance
What is the quick ratio of the company?A1.75B2.56 C2.88D 3.20