快速查题-ACCA英国注册会计师试题

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?

Banter Co purchased an office building on 1 January 20X1. The building cost was $1,600,000 and this was depreciated by the straight line method at 2% per year, assuming a 50-year life and nil residual value. The building was re-valued to $2,250,000

on 1 January 20X6. The useful life was not revised. The company!s financial year ends on 31 December.

What is the balance on the revaluation surplus at 31 December 20X6?

A company purchased an asset on 1 January 20X3 at a cost of $1,000,000. It is depreciated over50 years by the straight line method (nil residual value), with a proportionate charge for depreciation in the year of acquisition and the year of disposal. At

31 December 20X4 the asset was re-valued to $1,200,000. There was no change in the expected useful life of the asset.The

asset was sold on 30 June 20X5 for $1,195,000.

What profit or loss on disposal of the asset will be reported in the statement of profit or loss of the company for the year ended 31 December 20X5?

Which one of the following assets may be classified as a non-current asset in the financial statements of a business?

Which of the following items should be included in current assets?

(i) Assets which are not intended to be converted into cash

(ii) Assets which will be converted into cash in the long term

(iii) Assets which will be converted into cash in the near future

Which of the following statements describes current assets?

Gamma purchases a motor vehicle on 30 September 20X1 for $15,000 on credit. Gamma has a policy of depreciating

motorvehicles using the reducing balance method at 15% per annum, pro rata in the years of purchase and sale.

What are the correct ledger entries to record the purchase of the vehicle at 30 September 20X1 and what is the

depreciationcharge for the year ended 30 November 20X1?Purchase of motor vehicle on 30.9.X1 Depreciation charge for

year ended 30.11.X1

Banjo Co purchased a building on 30 June 20X8 for $1,250,000. At acquisition, the useful life of the building was 50 years.

Depreciation is calculated on the straight-line basis. 10 years later, on 30 June 20Y8 when the carrying amount of the building was $1,000,000, the building was revalued to $1,600,000. Banjo Co has a policy of transferring the excess depreciation on

revaluation from the revaluation surplus to retained earnings.Assuming no further revaluations take place,

what is the balance on the revaluation surplus at 30 June 20Y9?

A non-current asset (cost $15,000, depreciation $10,000) is given in part exchange for a new asset costing $20,500.

The agreed trade-in value was $5,500. Which of the following will be included in the statement of profit or loss?

Baxter Co purchased an asset for $100,000 on 1.1.X1. It had an estimated useful life of 5 years and it was depreciated using

he straight line method. On 1.1.X3 Baxter Co revised the remaining estimated useful life to 8 years.

What is the carrying amount of the asset at 31.12.X3?