Questions from Financial Accounting


Q: Jemma Burrett is a public practitioner. Four years earlier she had

Jemma Burrett is a public practitioner. Four years earlier she had set up a family trust for a major client by the name of Simon Trent. The trust is for the benefit of Simon and his wife Marie. Marie...

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Q: On 1 April 20W9 Oliver granted share options to 20 senior executives

On 1 April 20W9 Oliver granted share options to 20 senior executives. The options are due to vest on 31 March 20X2 provided the senior executives remain with the company for the period between 1 April...

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Q: The following is an extract from Accountancy Age, 25 January 2001

The following is an extract from Accountancy Age, 25 January 2001: A powerful and ‘shadowy’ group of senior partners from the seven largest firms has emerged to move closer to edging control of accoun...

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Q: George Longfellow is a financial controller with a listed industrial firm which

George Longfellow is a financial controller with a listed industrial firm which has a long period of sustained growth. This has necessitated substantial use of external borrowing. During the great fin...

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Q: (a) ‘Measurement in financial statements’, Chapter 6 of

(a) ‘Measurement in financial statements’, Chapter 6 of the ASB’s Statement of Principles, was published in 1999. Among the theoretical valuation systems considered is value in use, more commonly know...

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Q: (a) Describe briefly the theory underlying Hicks’s economic model of

(a) Describe briefly the theory underlying Hicks’s economic model of income and capital. What are its practical limitations? (b) Spock purchased a Space Invader entertainment machine at the beginning...

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Q: Jason commenced with £135,000 cash. He acquired an

Jason commenced with £135,000 cash. He acquired an established shop on 1 January 20X1. He agreed to pay £130,000 for the fixed and current assets and the goodwill. The replac...

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Q: Raiders plc prepares accounts annually to 31 March. The following figures

Raiders plc prepares accounts annually to 31 March. The following figures, prepared on a conventional historical cost basis, are included in the company’s accounts to 31 March 20X5....

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Q: The finance director of Toy plc has been asked by a shareholder

The finance director of Toy plc has been asked by a shareholder to explain items that appear in the current cost statement of comprehensive income for the year ended 31.8.20X9 and the statement of fin...

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Q: The statements of financial position of Parkway plc for 20X7 and 20X8

The statements of financial position of Parkway plc for 20X7 and 20X8 are given below, together with the income statement for the year ended 30 June 20X8. Notes 1 The freehold land and buildings we...

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