F7- Kiểm tra đkien 2

Fido Feed Ltd has the following loans in place throughout the year ended 31 December 20X8 which constitute its general borrowings for the period.

10% bank loan: $ 140m

8% bank loan: $ 200m

On 1 July 20X8 $50 million was drawn down for construction of a qualifying asset which was completed during 20X9. What amount should be capitalised as borrowing costs at 31 December 20X8 in respect of this asset?

• $5.6 million

  
  

• $2.8 million

  
  

• $4.4 million

  
  

• $2.2 million

  
  

Interest expense accrued but included in taxable profit on a cash basis should be classified under deductible temporary differences

• True

• False

An investment property is initially measured at cost, including transaction costs. 

• True

• False

IAS 36 Impairment of Assets contains a number of examples of internal and external events which may indicate the impairment of an asset. In accordance with IAS 36, which of the following would definitely NOT be an indicator of the potential impairment of an asset (or group of assets)?

• An unexpected fall in the market value of one or more assets

  
  

• Adverse changes in the economic performance of one or more assets

  
  

• A significant change in the technological environment in which an asset is employed making its software effectively obsolete

  
  

• The carrying amount of an entity's net assets being below the entity's market capitalisation

  
  

Transfer to or from investment property should only be made when there is a change in their use

• True

• False

According to IFRS 15 – Revenue from Contracts with Customers, which one of the following criteria must be satisfied before revenue from the sale of goods should be recognised in profit or loss?

• The customer has no rights to return

  
  

• The outcome of the transaction is certain

  
  

• A performance obligation has been met

  
  

• The transaction price has been settled in full by the customer

  
  

According to current guidance within IAS 23 Borrowing costs, which of the following treatments are required for borrowing costs incurred that are directly attributable to the construction of a qualifying asset?

• Recognise as an expense in the period incurred.

  
  

• Capitalise as part of the cost of the asset.

  
  

• None of the above

  
  

Because of the loss arising from operating the shops, the accountant is considering whether Lisbon is a going concern. If it was decided that Lisbon was no longer a going concern at 31 March 20X6, which of the following is correct in accordance with the Conceptual Framework? 

• Financial statements do not need to be prepared

  
  

• All the assets should be liquidated

  
  

• The financial statements should be prepared on a different basis

  
  

• The financial statements should be prepared as normal and the going concern status disclosed in the notes

  
  

The net assets of Winter Co., a cash generating unit (CGU), are: 

Property, plant and equipment: 300,000 

Allocated goodwill: 50,000

Product patent: 20,000

Net current asset: 30,000 

After a recession,  Winter Co.  has a recoverable amount of only $300,000. What would be value of the CGU's property, plant and equipment after the allocation of the impairment loss

• 253,125

  
  

• 263,875

• 300,000

• 273,875

Wetherby Co purchased a machine on 1 July 20X7 for $500,000. It is being depreciated on a straight-line basis over its useful life of ten years. Residual value is estimated at $20,000. On 1 January 20X8, following a change in legislation, Wetherby Co fitted a safety guard to the machine. The safety guard cost $25,000 and has a useful life of five years with no residual value.

What amount will be charged to profit or loss for the year ended 31 March 20X8 in respect of depreciation on this machine?

• $36,658

  
  

• $37,250