Questions from Financial Accounting


Q: Complete Computer Services (CCS) sells computer packages which include supply

Complete Computer Services (CCS) sells computer packages which include supply of a computer which carries the normal warranty against faulty parts plus a two-year assistance package covering problems...

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Q: The draft statement of financial position of Telin plc at 30 September

The draft statement of financial position of Telin plc at 30 September 20X5 was as follows: Preference shares of the company were originally issued at a premium of 2p per share. The directors of the...

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Q: The following is the statement of financial position of Alpha Ltd as

The following is the statement of financial position of Alpha Ltd as on 30 June 20X8: The following information is relevant: 1 There are contingent liabilities in respect of (i) a guarantee given to...

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Q: A summary of the statement of financial position of Doxin plc,

A summary of the statement of financial position of Doxin plc, as at 31 December 20X0, is given below: During 20XI, the company: (i) issued 200,000 ordinary shares of £I each at a premi...

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Q: Discuss the advantages to a company of: (a)

Discuss the advantages to a company of: (a) purchasing and cancelling its own shares; (b) purchasing and holding its own shares in treasury.

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Q: In the year to 31 December 20X9, Amy bought a new

In the year to 31 December 20X9, Amy bought a new machine and made the following payments in relation to it: Required: (a) State and justify the cost figure which should be used as the basis for dep...

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Q: Speedster Ltd commenced trading in 1986 as a wholesaler of lightweight travel

Speedster Ltd commenced trading in 1986 as a wholesaler of lightweight travel accessories. The company was efficient and traded successfully until 2000 when new competitors entered the market selling...

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Q: Delta Ltd has been developing a lightweight automated wheelchair. The research

Delta Ltd has been developing a lightweight automated wheelchair. The research costs written off have been far greater than originally estimated and the equity and preference capital has been eroded a...

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Q: (a) Provisions are particular kinds of liabilities. It therefore

(a) Provisions are particular kinds of liabilities. It therefore follows that provisions should be recognized when the definition of a liability has been met. The key requirement of a liability is a p...

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Q: Olive A/S, incorporated with an authorised capital consisting of

Olive A/S, incorporated with an authorised capital consisting of one million ordinary shares of €1 each, employs 64 persons, of whom 42 work at the factory and the rest at the head of...

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