Questions from Financial Accounting


Q: The following Statements of Comprehensive Income relate to Rooster plc (Rooster

The following Statements of Comprehensive Income relate to Rooster plc (Rooster) and its investee companies, Houseton plc (Houseton) and Kelson plc (Kelson). Kelson is based in New Jersey, USA. It pro...

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Q: Alpha plc had an issued share capital of 2,000,

Alpha plc had an issued share capital of 2,000,000 ordinary shares at 1 January 20X1. The nominal value was 25p and the market value £1 per share. On 30 September 20X1 the company made a rights issue...

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Q: The following extract is from Conceptual Framework for Financial Accounting and Reporting

The following extract is from Conceptual Framework for Financial Accounting and Reporting: Elements of Financial Statements and Their Measurement, FASB 3, December 1976: The benefits of achieving agre...

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Q: Epsilon is a listed entity. You are the financial controller of

Epsilon is a listed entity. You are the financial controller of the entity and its consolidated financial statements for the year ended 30 September 2008 are being prepared. Your assistant, who has pr...

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Q: Beta Ltd had the following changes during 20X1: /

Beta Ltd had the following changes during 20X1: Required: Calculate the time-weighted average number of shares for the basic earnings per share denominator. Note that adjustments will be required fo...

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Q: The computation and publication of earnings per share (EPS) figures

The computation and publication of earnings per share (EPS) figures by listed companies are governed by IAS 33 Earnings per Share. Notes: 1 Called-up share capital of Nottingham Industries plc: In i...

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Q: The following information relates to Simrin plc for the year ended 31

The following information relates to Simrin plc for the year ended 31 December 20X0: Simrin plc had 100,000 ordinary shares of £1 each in issue throughout the year. Simrin plc has in is...

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Q: Delta NV has share capital of €1m in shares of €

Delta NV has share capital of €1m in shares of €0.25 each. At 31 May 20X9 shares had a market value of €1.1 each. On 1 June 20X9 the company makes a rights issue of one share for every four held at €0...

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Q: Flash Fashions plc has had a difficult nine months and the management

Flash Fashions plc has had a difficult nine months and the management team is discussing strategy for the final quarter. In the last nine months the company has survived by cutting production, reducin...

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Q: Amalgamated Engineering plc makes specialized machinery for several industries. In recent

Amalgamated Engineering plc makes specialized machinery for several industries. In recent years, the company has faced severe competition from overseas businesses, and its sales volume has hardly chan...

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