快速查題-ACCA英國注冊會計師試題

Alpha sells machine B for?????????????????? ?$50,000

cash on 30 April 20X4.

Machine B cost?????????????????????????????????????$100,000

when it was purchased and has a carrying amount of $65,000 at the date of disposal. What are the journal entries to record

the disposal of machine B?

Which of the following statements are correct?

1 IAS 16 Property, plant and equipment requires entities to disclose the purchase date of each asset.

2 The carrying amount of a non-current asset is the cost or valuation of that asset less accumulated depreciation.

3 IAS 16 Property, plant and equipment permits entities to make a transfer from the revaluation surplus to retained earnings

for excess depreciation on revalued assets.

4 Once decided, the useful life of a non-current asset should not be changed.

Gusna Co purchased a building on 31 December 20X1 for $750,000. At the date of acquisition, the useful life of the building

was estimated to be 25 years and depreciation is calculated using the straight-line method. At 31 December 20X6, an

independent valuer valued the building at $1,000,000 and the revaluation was recognised in the financial statements.

Gusna’s accounting policies state that excess depreciation arising on revaluation of non-current assets can be transferred

from the revaluation surplus to retained earnings.

What is the depreciation charge on the building for the year ended 31 December 20X7?

Gusna Co purchased a building on 31 December 20X1 for $750,000. At the date of acquisition, the useful life of the building

was estimated to be 25 years and depreciation is calculated using the straight-line method. At 31 December 20X6, an

independent valuer valued the building at $1,000,000 and the revaluation was recognised in the financial statements.

Gusna’s accounting policies state that excess depreciation arising on revaluation of non-current assets can be transferred

from the revaluation surplus to retained earnings

What is the journal entry to record the transfer of excess depreciation from

the revaluation surplus to retained earnings?

Which of the following should be disclosed for tangible non-current assets according to IAS 16 Property, p丨ant

andequipment?

1 Depreciation methods used and the total depreciation allocated for the period

2 A reconciliation of the carrying amount of non-current assets at the beginning and end of the period

3 For revalued assets, whether an independent valuer was involved in the valuation

4 For revalued assets, the effective date of the revaluation

Which of the following should be included in the reconciliation of the carrying amount of tangible non- current assets at the

beginning and end of the accounting period?

1 Additions

2Disposals

3 Depreciation

4 Increases/decreases from revaluations

A car was purchased by a newsagent business in May 20X0 for：???? ?$

Cost???????????????????????????????????????????????????????????????????????????????????????????????? ?10,000

Road tax?????????????????????????????????????????????????????????????????????????????????????? ????? ?150

Total??????????????????????????????????????????????????????????????????????????????????????????????? ? 10,150

The business adopts a date of 31 December as its year end.

The car was traded in for a replacement vehicle in August 20X3 at an agreed value of $5,000.It has been depreciated at 25% per annum on the reducing balance method, charging a full year's depreciation in the year of purchase and none in the year of sale

What was the profit or loss on disposal of the vehicle during the year ended December 20X3?

The carrying amount of a company's non-current assets was $200,000 at 1 August 20X0.

During the year ended 31 July20X1, the company sold non-current assets for $25,000 on which it made a loss of $5,000.

The depreciation charge for theyear was $20,000.

What was the carrying amount of noncurrent assets at 31 July 20X1?