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Thefollowinginformationisavailableaboutacompany’sdividends:

A、ProfitorlossfortheperiodUSD1,000,000deductionStatementoffinancialpositionUSD750,000liability

B、ProfitorlossfortheperiodUSD850,000deductionStatementoffinancialpositionUSDnil

C、ProfitorlossfortheperiodUSDnilStatementoffinancialpositionUSD750,000liability

D、ProfitorlossfortheperiodUSDnilStatementoffinancialpositionUSDnil

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答案解析：Dividendspaidareneverrecognisedinprofitorloss.Attheendofthereportingperiodtheinterimdividendhasbeenpaid(sonoliability)andthefinaldividendisnotdeclared(sonoliability).

ThefollowingbalanceshavebeenextractedfromSaracen’strialbalanceat31December2015:

A、USD4,929,600

B、USD4,994,600

C、USD5,059,600DUSD5,215,600

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答案解析：USDRetainedearningsat1January4,695,600Operatingprofit520,000Loannotesinterest(USD1.3m*10%)(130,000)Incometax(156,000)———Retainedearningsat31December4,929,600———

ThepriceofarawmaterialusedbyDiskaisvolatile.Atthecloseofbusinesson30November2015,thecompanyhad430kgofthematerialininventory.At1Novembertherehadbeennoneofthematerialininventory.ThemovementsinNovemberwe

A、USD21,596

B、USD23,850

C、USD24,760

D、USD25,800

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答案解析：FIFOmeansthatthe430kginventoryincludes:USDAllofthedeliveryon28Nov300kgatUSD6018,000Partofthedeliveryon19Nov130kgatUSD526,760———Inventoryvalue24,760———

Diamondissues250,000ordinaryshareswithanominalvalueofUSD2eachatapriceofUSD3.55eachforcash.

A、rBankUSD887,500;DrSharecapitalUSD500,000;DrSharepremiumUSD387,500

B、rBankUSD887,500;CrSharecapitalUSD250,000;CrSharepremiumUSD637,500

C、rBankUSD887,500;CrSharecapitalUSD500,000;CrSharepremiumUSD387,500

D、rBankUSD887,500;DrSharecapitalUSD250,000;DrSharepremiumUSD637,500

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答案解析：Cashraisedis250,000*USD3.55=USD887,500,whichisdebitedtocashatbank.Thecredittosharecapitalis250,000*USD2=USD500,000,whilethecredittosharepremiumis250,000*USD1.55=USD387,500

Sculpartbuysandsellsoriginalsculptures.Anitemininventoryat31March2016hadbeenboughtfouryearsagoatacostofUSD15,000.IthadoriginallybeenanticipatedthatthisitemwouldbesoldforUSD22,000.Todatethebestofferwhi

A、USD14,500

B、USD15,000

C、USD17,500

D、USD22,000

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答案解析：Inventoryisvaluedatlowerofcostandnetrealisablevalue.Netrealisablevalueisexpectedsaleproceeds(17,500)lesssellingcosts(3,000).

Silurbuysandrestoresitemsofexclusivevintagejewellery.At31May2015,therewerethreeitemsininventoryasfollows:

A、USD88,000

B、USD100,000

C、USD106,000

D、USD107,000

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答案解析：NecklaceBraceletPendantUSDUSDUSDPurchasecost12,00031,00045,000Restorationcoststodate6,0005,0002,000—————————Costat31May201518,00036,00047,000—————————Expectedsellingprice25,00038,00053,000Furthercosts

At30June2015acompanyhadUSD1m8%loannotesinissue.Interestispaidhalf-yearlyon30Juneand31December.

A、USD88,750

B、USD82,500

C、USD73,750

D、USD65,000

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答案解析：USDJuly–September(1,000,000*8%*3/12)20,000October–March(750,000*8%*6/12)30,000April–June(750,000*8%*3/12)15,000April–June(500,000*7%*3/12)8,750———73,750———

JoshFranklinbuysandsellsartandjewellery.At31May2015hehadthreeitemsininventory;apainting,anecklaceandapairofearrings.HehadboughtthepaintingforUSD3,500,believingitwasanoriginalbyGrahamKnuttel.Hehassince

A、USD7,000

B、USD5,200

C、USD4,700

D、USD2,900

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答案解析：Inventoryshouldbevaluedatthelowerofcostornetrealisablevalue.ThismeansthatthepaintingshouldbevaluedatUSD1,200(sellingpriceislowerthancost),thenecklaceatUSD900(cost)andtheear-ringsatUSD800(cost).

Woodpeckerhasproducedaninventorylistwhich,takingaccountofphysicalquantities,givesthefollowingvalues:

A、USD710

B、USD740

C、USD760

D、USD850

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答案解析：SelectingthelowerofcostandNRVappliedtoeachitem:100+170+150+120+170=USD710.

Floydmadearightsissueof150,000USD1ordinarysharesatpriceofUSD1.20pershare.

A、rBankUSD180,000CrSharecapitalUSD150,000;CrSharepremiumUSD30,000

B、rBankUSD180,000CrSharepremiumUSD180,000

C、rBankUSD180,000CrSharecapitalUSD180,000

D、rBankUSD150,000CrSharecapitalUSD120,000;CrSharepremiumUSD30,000

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答案解析：Bankisdebitedwiththeactualamountreceived.Sharecapitaliscreditedwiththenominalvalue(USD1pershare)andthesurplusabovenominalvalueiscreditedtothesharepremiumaccount.