Test chuẩn mực báo cáo tài chính

Câu 1: (1 điểm)
The general ledger trial balance of ABC company at 31 December 20xx:
(a) Inventory

$ 500,000

(b) Trade receivables

$ 225,000

(c) Prepaid insurance

$ 15,000

(d) Listed investments held for trading purposes at fair value

$ 40,000

(e) Available-for-sale investments

$ 75,000

(f) Cash

$ 80,500

(g) Deferred tax asset

$ 25,000

(h) Allowance for doubtful debt

$ 45,000

Additional information:
• ABC company’s available-for-sale investments are held as part of a long-term
investment strategy.
• The company classifies assets and liabilities using a current/non-current basis.
Required
The correct figures for current assets?
ANSWER:
The correct figures for current assets is $ ………
Câu 2: (1 điểm)
The general ledger trial balance of ABC Company at 31 December 20xx:
(a) Inventory

$ 500,000

(b) Accumulated depreciation

$ 225,000

(c) Prepaid insurance

$ 15,000

(d) Listed investments held for trading purposes at fair value

$ 40,000

(e) Available-for-sale investments

$ 75,000

(f) Raw materials

$ 80,500

(g) Deferred tax asset

$ 25,000

(h) Allowance for doubtful debt

$ 45,000


Additional information:
• ABC company’s available-for-sale investments are held as part of a long-term
investment strategy.
• The company classifies assets and liabilities using a current/non-current basis.
Required
The correct figures for current assets?
Câu 3: (1 điểm)
The general ledger trial balance of ABC Company at 31 December 20xx:
(a) Prepaid rent

$ 120,000

(b) Accumulated depreciation

$ 325,000

(c) Prepaid insurance

$ 215,000

(d) Equipment

$ 140,000

(e) Available-for-sale investments

$ 175,000

(f) Raw materials

$ 15,500

(g) Deferred tax liability

$ 25,000

(h) Allowance for doubtful debt

$ 45,000

Additional information:
• ABC company’s available-for-sale investments are held as part of a long-term
investment strategy.
• The company classifies assets and liabilities using a current/non-current basis.

Required
The correct figures for current assets?
Câu 4: (2 điểm)
Inventory movements for inventory during the last quarter were as follows:
Opening inventory at was 120 items valued at $500 each
Jan
Purchases: 200 items at $560 each
Feb
Sales:
250 items at $800 each
March
Purchases: 340 items at $570 each


Sales:

430 items at $800 each

Required:
1. The cost of sales for the quarter, using FIFO method, would be?
2. Gross profit for the quarter, using FIFO method, would be?
ANSWER:
1. The cost of sales for the quarter, using FIFO method, would be ……
2. Gross profit for the quarter, using FIFO method, would be ………
Câu 5: (2 điểm)
Inventory movements for inventory during the last quarter were as follows:
Opening inventory at was 220 items valued at $450 each
Jan
Purchases: 200 items at $460 each
Feb

Sales:
350 items at $800 each
March
Purchases: 500 items at $570 each
Sales:
450 items at $800 each
Required:
1. The cost of sales for the quarter, using FIFO method, would be?
2. Gross profit for the quarter, using FIFO method, would be?
Câu 6: (1 điểm)
L&L sells machines, and also offers installation and technical support services. The
individual selling prices of each product are shown below.
Sale price of goods $450
Installation $100
One year service $50
Locke sold a machine on 1 June 20X1, charging a reduced price of $450, including
installation and one year’s service.
Locke only offers discounts when customers purchase a package of products together.
Required:
According to IFRS 15 Revenue from Contracts with Customers, the revenue of machine
which sold on 1 June 20x1 would be recorded at 31 December 20x1 was ……..
Answer:


Revenue of machine would be recorded at 31 December 20x1 at ……..
Câu 7: (2 điểm)
On August 31, 20x0, ABC Company acquired a machine at a cost of $200,000; import
tax (nonrefundable) was $12,000; transportation was $6,000; it had and estimated life of
6 years, residual value of the machine was 2,000, and was expected to provide a level
pattern of utility to the entity. At 31 December, 20x2, the asset was sold $120,000.

Required: Using the straight line method, calculate:
1. The accumulated depreciation until disposal was $......
2. The disposal of asset was …….