(ii) The property of the former administrative centre of Tyre is owned by the company. Tyre had decided in the yearthat the property was surplus to requirements and demolished the building on 10 June 2006. After demolition,the company will have to carry out remedial environmental work, which is a legal requirement resulting from thedemolition. It was intended that the land would be sold after the remedial work had been carried out. However,land prices are currently increasing in value and, therefore, the company has decided that it will not sell the landimmediately. Tyres uses the ‘cost model’ in IAS16 ‘Property, plant and equipment’ and has owned the propertyfor many years. (7 marks)Required:Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended31 May 2006.(The mark allocation is shown against each of the above items)
(ii) The property of the former administrative centre of Tyre is owned by the company. Tyre had decided in the year
that the property was surplus to requirements and demolished the building on 10 June 2006. After demolition,
the company will have to carry out remedial environmental work, which is a legal requirement resulting from the
demolition. It was intended that the land would be sold after the remedial work had been carried out. However,
land prices are currently increasing in value and, therefore, the company has decided that it will not sell the land
immediately. Tyres uses the ‘cost model’ in IAS16 ‘Property, plant and equipment’ and has owned the property
for many years. (7 marks)
Required:
Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended
31 May 2006.
(The mark allocation is shown against each of the above items)
相关考题：
Surety Bonds are usually purchased for company treasurer, bank tellers, retail clerks, and salespeople, who have access to cash or valuable property.() 此题为判断题(对，错)。
Can you provide a bodyguard for the CEO of our company?A.Yes. A former national judo champion is in our company. You will be satisfied with him.B.No. Our company is expected to have a judo champion If he comes, you will be satisfied with him.C.No. He has already removed to a neighboring city. If he were here, you would be satisfied with him.D.Yes. My company has got a former national judo champion But he is highly demanding
4 Ryder, a public limited company, is reviewing certain events which have occurred since its year end of 31 October2005. The financial statements were authorised on 12 December 2005. The following events are relevant to thefinancial statements for the year ended 31 October 2005:(i) Ryder has a good record of ordinary dividend payments and has adopted a recent strategy of increasing itsdividend per share annually. For the last three years the dividend per share has increased by 5% per annum.On 20 November 2005, the board of directors proposed a dividend of 10c per share for the year ended31 October 2005. The shareholders are expected to approve it at a meeting on 10 January 2006, and adividend amount of $20 million will be paid on 20 February 2006 having been provided for in the financialstatements at 31 October 2005. The directors feel that a provision should be made because a ‘valid expectation’has been created through the company’s dividend record. (3 marks)(ii) Ryder disposed of a wholly owned subsidiary, Krup, a public limited company, on 10 December 2005 and madea loss of $9 million on the transaction in the group financial statements. As at 31 October 2005, Ryder had nointention of selling the subsidiary which was material to the group. The directors of Ryder have stated that therewere no significant events which have occurred since 31 October 2005 which could have resulted in a reductionin the value of Krup. The carrying value of the net assets and purchased goodwill of Krup at 31 October 2005were $20 million and $12 million respectively. Krup had made a loss of $2 million in the period 1 November2005 to 10 December 2005. (5 marks)(iii) Ryder acquired a wholly owned subsidiary, Metalic, a public limited company, on 21 January 2004. Theconsideration payable in respect of the acquisition of Metalic was 2 million ordinary shares of $1 of Ryder plusa further 300,000 ordinary shares if the profit of Metalic exceeded $6 million for the year ended 31 October2005. The profit for the year of Metalic was $7 million and the ordinary shares were issued on 12 November2005. The annual profits of Metalic had averaged $7 million over the last few years and, therefore, Ryder hadincluded an estimate of the contingent consideration in the cost of the acquisition at 21 January 2004. The fairvalue used for the ordinary shares of Ryder at this date including the contingent consideration was $10 per share.The fair value of the ordinary shares on 12 November 2005 was $11 per share. Ryder also made a one for fourbonus issue on 13 November 2005 which was applicable to the contingent shares issued. The directors areunsure of the impact of the above on earnings per share and the accounting for the acquisition. (7 marks)(iv) The company acquired a property on 1 November 2004 which it intended to sell. The property was obtainedas a result of a default on a loan agreement by a third party and was valued at $20 million on that date foraccounting purposes which exactly offset the defaulted loan. The property is in a state of disrepair and Ryderintends to complete the repairs before it sells the property. The repairs were completed on 30 November 2005.The property was sold after costs for $27 million on 9 December 2005. The property was classified as ‘held forsale’ at the year end under IFRS5 ‘Non-current Assets Held for Sale and Discontinued Operations’ but shown atthe net sale proceeds of $27 million. Property is depreciated at 5% per annum on the straight-line basis and nodepreciation has been charged in the year. (5 marks)(v) The company granted share appreciation rights (SARs) to its employees on 1 November 2003 based on tenmillion shares. The SARs provide employees at the date the rights are exercised with the right to receive cashequal to the appreciation in the company’s share price since the grant date. The rights vested on 31 October2005 and payment was made on schedule on 1 December 2005. The fair value of the SARs per share at31 October 2004 was $6, at 31 October 2005 was $8 and at 1 December 2005 was $9. The company hasrecognised a liability for the SARs as at 31 October 2004 based upon IFRS2 ‘Share-based Payment’ but theliability was stated at the same amount at 31 October 2005. (5 marks)Required:Discuss the accounting treatment of the above events in the financial statements of the Ryder Group for the yearended 31 October 2005, taking into account the implications of events occurring after the balance sheet date.(The mark allocations are set out after each paragraph above.)(25 marks)
(b) Misson has purchased goods from a foreign supplier for 8 million euros on 31 July 2006. At 31 October 2006,the trade payable was still outstanding and the goods were still held by Misson. Similarly Misson has sold goodsto a foreign customer for 4 million euros on 31 July 2006 and it received payment for the goods in euros on31 October 2006. Additionally Misson had purchased an investment property on 1 November 2005 for28 million euros. At 31 October 2006, the investment property had a fair value of 24 million euros. The companyuses the fair value model in accounting for investment properties.Misson would like advice on how to treat these transactions in the financial statements for the year ended 31October 2006. (7 marks)Required:Discuss the accounting treatment of the above transactions in accordance with the advice required by thedirectors.(Candidates should show detailed workings as well as a discussion of the accounting treatment used.)
2 Tyre, a public limited company, operates in the vehicle retailing sector. The company is currently preparing its financialstatements for the year ended 31 May 2006 and has asked for advice on how to deal with the following items:(i) Tyre requires customers to pay a deposit of 20% of the purchase price when placing an order for a vehicle. If thecustomer cancels the order, the deposit is not refundable and Tyre retains it. If the order cannot be fulfilled byTyre, the company repays the full amount of the deposit to the customer. The balance of the purchase pricebecomes payable on the delivery of the vehicle when the title to the goods passes. Tyre proposes to recognisethe revenue from the deposits immediately and the balance of the purchase price when the goods are deliveredto the customer. The cost of sales for the vehicle is recognised when the balance of the purchase price is paid.Additionally, Tyre had sold a fleet of cars to Hub and gave Hub a discount of 30% of the retail price on thetransaction. The discount given is normal for this type of transaction. Tyre has given Hub a buyback option whichentitles Hub to require Tyre to repurchase the vehicles after three years for 40% of the purchase price. The normaleconomic life of the vehicles is five years and the buyback option is expected to be exercised. (8 marks)Required:Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended31 May 2006.(The mark allocation is shown against each of the above items)
(iii) Tyre has entered into two new long lease property agreements for two major retail outlets. Annual rentals are paidunder these agreements. Tyre has had to pay a premium to enter into these agreements because of the outlets’location. Tyre feels that the premiums paid are justifiable because of the increase in revenue that will occurbecause of the outlets’ location. Tyre has analysed the leases and has decided that one is a finance lease andone is an operating lease but the company is unsure as to how to treat this premium. (5 marks)Required:Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended31 May 2006.(The mark allocation is shown against each of the above items)
(iv) Tyre recently undertook a sales campaign whereby customers can obtain free car accessories, by presenting acoupon, which has been included in an advertisement in a national newspaper, on the purchase of a vehicle.The offer is valid for a limited time period from 1 January 2006 until 31 July 2006. The management are unsureas to how to treat this offer in the financial statements for the year ended 31 May 2006.(5 marks)Required:Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended31 May 2006.(The mark allocation is shown against each of the above items)
6 Alasdair, aged 42, is single. He is considering investing in property, as he has heard that this represents a goodinvestment. In order to raise the funds to buy the property, he wants to extract cash from his personal company, BeezerLimited, whose year end is 31 December.Beezer Limited was formed on 1 May 1998 with ￡1,000 of capital issued as 1,000 ￡1 ordinary shares, and tradeduntil 1 January 2005 when Alasdair sold the trade and related assets. The company’s only asset is cash of￡120,000. Alasdair wants to extract this cash from the company with the minimum amount of tax payable. He isconsidering either, paying himself a dividend of ￡120,000, on 31 March 2006, after which the company would haveno assets and be wound up or, leaving the cash in the company and then liquidating the company. Costs of liquidationof ￡5,000 would then be incurred.Since Beezer Limited ceased trading, Alasdair has been taken on as a partner at a marketing firm, Gallus Co. Heestimates his profit share for the year of assessment 2005/06 will be ￡30,000. He has not made any capital disposalsin the current tax year.Alasdair wishes to reinvest the cash extracted from Beezer Limited in property but is not sure whether he should investdirectly in residential or commercial property, or do so via some form. of collective investment. He is aware that Gallus Co are looking to rent a new warehouse which could be bought for ￡200,000. Alasdair thinks that he may be ableto buy the warehouse himself and lease it to his firm, but only if he can borrow the additional money to buy theproperty.Alasdair has a 25% shareholding in another company, Glaikit Limited, whose year end is 31 March. The remainingshares in this company are held by his friend, Gill. Alasdair is considering borrowing ￡15,000 from Glaikit Limitedon 1 January 2006. He does not intend to pay any interest on the loan, which is likely to be written off some timein 2007. Alasdair does not have any connection with Glaikit Limited other than his shareholding.Required:(a) Advise Alasdair whether or not a dividend payment will result in a higher after-tax cash sum than theliquidation of Beezer Limited. Assume that either the dividend would be paid on 31 March 2006 or theliquidation would take place on 31 March 2006. (9 marks)Assume that Beezer Limited has always paid corporation tax at or above the small companies rate of 19%and that the tax rates and allowances for 2004/05 apply throughout this part.
(b) (i) Advise Alasdair of the tax implications and relative financial risks attached to the following propertyinvestments:(1) buy to let residential property;(2) commercial property; and(3) shares in a property investment company/unit trust. (9 marks)
(b) Historically, all owned premises have been measured at cost depreciated over 10 to 50 years. The managementboard has decided to revalue these premises for the year ended 30 September 2005. At the balance sheet datetwo properties had been revalued by a total of $1·7 million. Another 15 properties have since been revalued by$5·4 million and there remain a further three properties which are expected to be revalued during 2006. Arevaluation surplus of $7·1 million has been credited to equity. (7 marks)Required:For each of the above issues:(i) comment on the matters that you should consider; and(ii) state the audit evidence that you should expect to find,in undertaking your review of the audit working papers and financial statements of Albreda Co for the year ended30 September 2005.NOTE: The mark allocation is shown against each of the three issues.
(b) You are the manager responsible for the audit of Poppy Co, a manufacturing company with a year ended31 October 2008. In the last year, several investment properties have been purchased to utilise surplus fundsand to provide rental income. The properties have been revalued at the year end in accordance with IAS 40Investment Property, they are recognised on the statement of financial position at a fair value of $8 million, andthe total assets of Poppy Co are $160 million at 31 October 2008. An external valuer has been used to providethe fair value for each property.Required:(i) Recommend the enquiries to be made in respect of the external valuer, before placing any reliance on theirwork, and explain the reason for the enquiries; (7 marks)
Some of the _____ solutions will support these requirements better at the moment. A property ;B prosperity ;C proprietary
According to your resume, you have had some experience working in a foreign company. May I ask you why you left?
Until security has been provided the Contractor shall have a maritime lien on ______ for his remuneration．A.the property lostB.the property salvedC.the property involved in the accident which gave rise to the salvage operationsD.any other property in danger which is not and has not been on board the vessel
The multinational corporation is making a take-over __________ for a property company.A.applicationB.bidC.proposalD.suggestion
You are the network administrator for your company. The network consists of a single Active Directorydomain. The functional level of the domain is Windows Server 2003.Some user accounts have expiring passwords and some do not. You need to identify all user accounts that do not have expiring passwords. You need to modify the passwordproperty to allow the passwords on these accounts to expire. You must complete this task by using the minimum amount of administrative effort.First, you create a saved query to obtain a list of all user accounts that do not have expiring passwords.What should you do next? （）A、Export the query results to a comma-delimited file. Use a CSVDE script to modify the password property of each user account.B、From the Results pane of the query, select all user accounts and modify their password properties simultaneously.C、Export the query results to a comma-delimited file. Use an LDIFDE script to modify the password property of each user account.D、From the Results pane of the query, select each user account and modify the password property, one by one.
You have written a custom menu for a Forms application. You saved the menu module to the file custmenu.mmb. In the Property Palette for the form, you set the Menu Module property to custmenu. When you run the form, the custom menu does not appear. What can you do to fix this problem?（）A、Generate the menu module executable. B、Save the menu module as custmenu.mmx. C、In the Property Sheet for the form, set the Starting Menu property to custmenu. D、In the Property Sheet for the form, set the Menu Module property to custmenu.mmb.
You have a Web application that is configured for personalization. You need to access personalization data from one of the pages of the Web application by using the minimum amount of administrative effort. What should you do? （）A、Access the personalization data from the Session property of the HttpContext object.B、Access the personalization data from the Application property of the HttpContext object.C、Access the personalization data from the Cache property of the HttpContext object.D、Access the personalization data from the Profile property of the HttpContext object.
You have a custom button, with should have a Property "IsActive", one must be able to bind this Property on a class Property.（）A、Dependency PropertyB、INotifyPropertyChangedC、net Property
You are creating a Windows Communication Foundation (WCF) service to process orders.The data contract for the order is defined as follows:[DataContract]public class Order{ [DataMember] public string CardHolderName { get; set; } [DataMember] public string CreditCardNumber { get; set; }}You have the following requirements: Enable the transmission of the contents of Order from the clients to the service. Ensure that the contents of CreditCardNumber are not sent across the network in clear text. Ensure that the contents of CreditCardNumber are accessible by the service to process the order.You need to implement the service to meet these requirements. What should you do?（）A、Add a DataProtectionPermission attribute to the CreditCardNumber property and set the ProtectData property to true.B、Convert the DataContract to a MessageContract and set the ProtectionLevel property to SignAndEncrypt.C、Change the data type of CreditCardNumber from string to SecureString.D、Implement the CreditCardNumber property getter and setter In the setter, run the value of the CreditCardNumber through the MD5CryptoServiceProvider class TransformBlock method.
You are creating a Windows Communication Foundation （WCF） service that accepts messages from clients when they are started. The message is defined as follows. [MessageContract] public class Agent { public string CodeName { get； set； }public string SecretHandshake { get； set； } } You have the following requirements： "The CodeName property must be sent in clear text. The service must be able to verify that the property value was not changed after being sent by the client. "The SecretHandshake property must not be sent in clear text and must be readable by the service. What should you do？（） A、 Add a MessageBodyMember attribute to the CodeName property and set the ProtectionLevel to Sign. Add a MessageBodyMember attribute to the SecretHandshake property and set the protectionLevel to EncryptAndSign.B、 Add a DataProtectionPermission attribute to the each property and set the ProtectData property to true.C、 Add an XmlText attribute to the CodeName property and set the DataType property to Signed. add a PasswordPropertyText attribute to the SecretHandshake property and set its value to true.D、 Add an ImmutableObject attribute to the CodeName property and set its value property to true. Add a Browsable attribute to the SecretHandshake property and set its value to false.
单选题You have written a custom menu for a Forms application. You saved the menu module to the file custmenu.mmb. In the Property Palette for the form, you set the Menu Module property to custmenu. When you run the form, the custom menu does not appear. What can you do to fix this problem?（）AGenerate the menu module executable. BSave the menu module as custmenu.mmx. CIn the Property Sheet for the form, set the Starting Menu property to custmenu. DIn the Property Sheet for the form, set the Menu Module property to custmenu.mmb.
单选题You are creating a Windows Communication Foundation （WCF） service that accepts messages from clients when they are started. The message is defined as follows. [MessageContract] public class Agent { public string CodeName { get； set； }public string SecretHandshake { get； set； } } You have the following requirements： "The CodeName property must be sent in clear text. The service must be able to verify that the property value was not changed after being sent by the client. "The SecretHandshake property must not be sent in clear text and must be readable by the service. What should you do？（）A Add a MessageBodyMember attribute to the CodeName property and set the ProtectionLevel to Sign. Add a MessageBodyMember attribute to the SecretHandshake property and set the protectionLevel to EncryptAndSign.B Add a DataProtectionPermission attribute to the each property and set the ProtectData property to true.C Add an XmlText attribute to the CodeName property and set the DataType property to Signed. add a PasswordPropertyText attribute to the SecretHandshake property and set its value to true.D Add an ImmutableObject attribute to the CodeName property and set its value property to true. Add a Browsable attribute to the SecretHandshake property and set its value to false.
单选题You have a custom button, with should have a Property "IsActive", one must be able to bind this Property on a class Property.（）ADependency PropertyBINotifyPropertyChangedCnet Property