ACCA英国注册会计师试题及答案_ACCA英国注册会计师考试练习题P147-新东方在线职业题库

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?

A

Dr Revaluation surplus $20,000Cr Retained earnings $20,000

B

Dr Revaluation surplus $12,500Cr Retained earnings $12,500

C

Dr Retained earnings $20,000Cr Revaluation surplus $20,000

D

Dr Revaluation surplus $12,500Cr Retained earnings $12,500

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

A

1, 2 and 4 only

B

1 and 2 only

C

1, 2, 3 and 4

D

1, 3 and 4 only

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

1 and 3 only

B

1, 2, and 3 only

C

1,3 and 4

D

1,2, 3 and 4

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?

A

Profit: $718

B

Profit: $781

C

Profit: $1,788

D

Profit： $1,836

State whether Cid has any right of action against Ace Ltd for the work that he did in attempting to solve the Brag problem

State whether Ed has any right of action against Ace Ltd for the work that he did in solving the Brag problem

Which of the following statements regarding consideration is correct?

A

Consideration can be in the form of any act, even if that act is impossible to perform

B

Performance of an illegal act is valid consideration

C

Past consideration is sufficient to create liability on a bill of exchange

D

Suffering some loss or detriment is not valid consideration

Which of the following is executed consideration?

A

Providing goods in return for payment at the same time

B

A promise of payment in return for the provision of goods at a later date

C

A promise to pay for work already carried out

Which of the following describes how courts deal with the adequacy of consideration?

A

Courts will seek to ensure that consideration from each party is of equal value

B

Courts will seek to ensure no party makes excess profit

C

Courts will not interfere in a contract to rectify a bad bargain

Which of the following statements regarding the adequacy and sufficiency of consideration is correct?

A

Consideration does not need to have a value to be sufficient

B

Consideration is sufficient if it has some economic value

C

Consideration does not need to be sufficient but must be adequate

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