On 1 April 2009 Pandar purchased 80% of the equity shares in Salva. The acquisition was through a share exchange of three shares in Pandar for every five shares in Salva. The market prices of Pandar’s and Salva’s shares at 1 April2009 were $6 per share and $3.20 respectively.On the same date Pandar acquired 40% of the equity shares in Ambra paying $2 per share.The summarised income statements for the three companies for the year ended 30 September 2009 are:The following information is relevant:(i) The fair values of the net assets of Salva at the date of acquisition were equal to their carrying amounts with the exception of an item of plant which had a carrying amount of $12 million and a fair value of $17 million. This plant had a remaining life of five years (straight-line depreciation) at the date of acquisition of Salva. All depreciation is charged to cost of sales.In addition Salva owns the registration of a popular internet domain name. The registration, which had anegligible cost, has a five year remaining life (at the date of acquisition); however, it is renewable indefinitely at a nominal cost. At the date of acquisition the domain name was valued by a specialist company at $20 million.The fair values of the plant and the domain name have not been reflected in Salva’s financial statements.No fair value adjustments were required on the acquisition of the investment in Ambra.(ii) Immediately after its acquisition of Salva, Pandar invested $50 million in an 8% loan note from Salva. All interest accruing to 30 September 2009 had been accounted for by both companies. Salva also has other loans in issue at 30 September 2009.(iii) Pandar has credited the whole of the dividend it received from Salva to investment income.(iv) After the acquisition, Pandar sold goods to Salva for $15 million on which Pandar made a gross profit of 20%. Salva had one third of these goods still in its inventory at 30 September 2009. There are no intra-group current account balances at 30 September 2009.(v) The non-controlling interest in Salva is to be valued at its (full) fair value at the date of acquisition. For thispurpose Salva’s share price at that date can be taken to be indicative of the fair value of the shareholding of the non-controlling interest.(vi) The goodwill of Salva has not suffered any impairment; however, due to its losses, the value of Pandar’sinvestment in Ambra has been impaired by $3 million at 30 September 2009.(vii) All items in the above income statements are deemed to accrue evenly over the year unless otherwise indicated.Required:(a) (i) Calculate the goodwill arising on the acquisition of Salva at 1 April 2009; (6 marks)(ii) Calculate the carrying amount of the investment in Ambra to be included within the consolidatedstatement of financial position as at 30 September 2009. (3 marks)(b) Prepare the consolidated income statement for the Pandar Group for the year ended 30 September 2009.(16 marks)
On 1 April 2009 Pandar purchased 80% of the equity shares in Salva. The acquisition was through a share exchange of three shares in Pandar for every five shares in Salva. The market prices of Pandar’s and Salva’s shares at 1 April
2009 were $6 per share and $3.20 respectively.
On the same date Pandar acquired 40% of the equity shares in Ambra paying $2 per share.
The summarised income statements for the three companies for the year ended 30 September 2009 are:
The following information is relevant:
(i) The fair values of the net assets of Salva at the date of acquisition were equal to their carrying amounts with the exception of an item of plant which had a carrying amount of $12 million and a fair value of $17 million. This plant had a remaining life of five years (straight-line depreciation) at the date of acquisition of Salva. All depreciation is charged to cost of sales.
In addition Salva owns the registration of a popular internet domain name. The registration, which had a
negligible cost, has a five year remaining life (at the date of acquisition); however, it is renewable indefinitely at a nominal cost. At the date of acquisition the domain name was valued by a specialist company at $20 million.
The fair values of the plant and the domain name have not been reflected in Salva’s financial statements.
No fair value adjustments were required on the acquisition of the investment in Ambra.
(ii) Immediately after its acquisition of Salva, Pandar invested $50 million in an 8% loan note from Salva. All interest accruing to 30 September 2009 had been accounted for by both companies. Salva also has other loans in issue at 30 September 2009.
(iii) Pandar has credited the whole of the dividend it received from Salva to investment income.
(iv) After the acquisition, Pandar sold goods to Salva for $15 million on which Pandar made a gross profit of 20%. Salva had one third of these goods still in its inventory at 30 September 2009. There are no intra-group current account balances at 30 September 2009.
(v) The non-controlling interest in Salva is to be valued at its (full) fair value at the date of acquisition. For this
purpose Salva’s share price at that date can be taken to be indicative of the fair value of the shareholding of the non-controlling interest.
(vi) The goodwill of Salva has not suffered any impairment; however, due to its losses, the value of Pandar’s
investment in Ambra has been impaired by $3 million at 30 September 2009.
(vii) All items in the above income statements are deemed to accrue evenly over the year unless otherwise indicated.
Required:
(a) (i) Calculate the goodwill arising on the acquisition of Salva at 1 April 2009; (6 marks)
(ii) Calculate the carrying amount of the investment in Ambra to be included within the consolidated
statement of financial position as at 30 September 2009. (3 marks)
(b) Prepare the consolidated income statement for the Pandar Group for the year ended 30 September 2009.(16 marks)
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10 Which of the following factors would cause a company’s gearing ratio to fall?1 A bonus issue of ordinary shares.2 A rights issue of ordinary shares.3 An issue of loan notes.4 An upward revaluation of non-current assets.A 1 and 3B 2 and 3C 1 and 4D 2 and 4
3 The managers of Daylon plc are reviewing the company’s investment portfolio. About 15% of the portfolio is represented by a holding of 5,550,000 ordinary shares of Mondglobe plc. The managers are concerned about the effect on portfolio value if the price of Mondglobe’s shares should fall, and are considering selling the shares. Daylon’s investment bank has suggested that the risk of Mondglobe’s shares falling by more than 5% from their current value could be protected against by buying an over the counter option. The investment bank is prepared to sell an appropriate six month option to Daylon for ￡250,000.Other information:(i) The current market price of Mondglobe’s ordinary shares is 360 pence.(ii) The annual volatility (variance) of Mondglobe’s shares for the last year was 169%.(iii) The risk free rate is 4% per year.(iv) No dividend is expected to be paid by Mondglobe during the next six months.Required:(a) Evaluate whether or not the price at which the investment bank is willing to sell the option is a fair price.(10 marks)
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)
3 (a) Leigh, a public limited company, purchased the whole of the share capital of Hash, a limited company, on 1 June2006. The whole of the share capital of Hash was formerly owned by the five directors of Hash and under theterms of the purchase agreement, the five directors were to receive a total of three million ordinary shares of $1of Leigh on 1 June 2006 (market value $6 million) and a further 5,000 shares per director on 31 May 2007,if they were still employed by Leigh on that date. All of the directors were still employed by Leigh at 31 May2007.Leigh granted and issued fully paid shares to its own employees on 31 May 2007. Normally share options issuedto employees would vest over a three year period, but these shares were given as a bonus because of thecompany’s exceptional performance over the period. The shares in Leigh had a market value of $3 million(one million ordinary shares of $1 at $3 per share) on 31 May 2007 and an average fair value of$2·5 million (one million ordinary shares of $1 at $2·50 per share) for the year ended 31 May 2007. It isexpected that Leigh’s share price will rise to $6 per share over the next three years. (10 marks)Required:Discuss with suitable computations how the above share based transactions should be accounted for in thefinancial statements of Leigh for the year ended 31 May 2007.
(b) On 31 May 2007, Leigh purchased property, plant and equipment for $4 million. The supplier has agreed toaccept payment for the property, plant and equipment either in cash or in shares. The supplier can either choose1·5 million shares of the company to be issued in six months time or to receive a cash payment in three monthstime equivalent to the market value of 1·3 million shares. It is estimated that the share price will be $3·50 inthree months time and $4 in six months time.Additionally, at 31 May 2007, one of the directors recently appointed to the board has been granted the right tochoose either 50,000 shares of Leigh or receive a cash payment equal to the current value of 40,000 shares atthe settlement date. This right has been granted because of the performance of the director during the year andis unconditional at 31 May 2007. The settlement date is 1 July 2008 and the company estimates the fair valueof the share alternative is $2·50 per share at 31 May 2007. The share price of Leigh at 31 May 2007 is $3 pershare, and if the director chooses the share alternative, they must be kept for a period of four years. (9 marks)Required:Discuss with suitable computations how the above share based transactions should be accounted for in thefinancial statements of Leigh for the year ended 31 May 2007.
2 Graeme, aged 57, is married to Catherine, aged 58. They work as medical consultants, and both are higher ratetaxpayers. Barry, their son, is aged 32. Graeme, Catherine and Barry are all UK resident, ordinarily resident anddomiciled. Graeme has come to you for some tax advice.Graeme has invested in shares for some time, in particular shares in Thistle Dubh Limited. He informs you of thefollowing transactions in Thistle Dubh Limited shares:(i) In December 1986, on the death of his grandmother, he inherited 10,000 ￡1 ordinary shares in Thistle DubhLimited, an unquoted UK trading company providing food supplies for sporting events. The probate value of theshares was 360p per share.(ii) In March 1992, he took up a rights issue, buying one share for every two held. The price paid for the rightsshares was ￡10 per share.(iii) In October 1999, the company underwent a reorganisation, and the ordinary shares were split into two newclasses of ordinary share – ‘T’ shares and ‘D’ shares, each with differing rights. Graeme received two ‘T’ and three‘D’ shares for each original Thistle Dubh Limited share held. The market values for the ‘T’ shares and the ‘D’shares on the date of reorganisation were 135p and 405p per share respectively.(iv) On 1 May 2005, Graeme sold 12,000 ‘T’ shares. The market values for the ‘T’ shares and the ‘D’ shares on thatday were 300p and 600p per share respectively.(v) In October 2005, Graeme sold all of his ‘D’ shares for ￡85,000.(vi) The current market value of ‘T’ shares is 384p per share. The shares remain unquoted.Graeme and Catherine have owned a holiday cottage in a remote part of the UK for many years. In recent years, theyhave used the property infrequently, as they have taken their holidays abroad and the cottage has been let out asfurnished holiday accommodation.Graeme and Catherine are now considering selling the UK country cottage and purchasing a holiday villa abroad.Initially they plan to let this villa out on a furnished basis, but following their anticipated retirement, would expect tooccupy the property for a significant part of the year themselves, possibly moving to live in the villa permanently.Required:(a) Calculate the total chargeable gains arising on Graeme’s disposals of ‘T’ and ‘D’ ordinary shares in May andOctober 2005 respectively. (7 marks)
6 Assume today’s date is 16 April 2005.Henry, aged 48, is the managing director of Happy Home Ltd, an unquoted UK company specialising in interiordesign. He is wealthy in his own right and is married to Helen, who is 45 years old. They have two children – Stephen,who is 19, and Sally who is 17.As part of his salary, Henry was given 3,000 shares in Happy Home Ltd with an option to acquire a further 10,000shares. The options were granted on 15 July 2003, shortly after the company started trading, and were not part ofan approved share option scheme. The free shares were given to Henry on the same day.The exercise price of the share options was set at the then market value of ￡1·00 per share. The options are notcapable of being exercised after 10 years from the date of grant. The company has been successful, and the currentvalue of the shares is now ￡14·00 per share. Another shareholder has offered to buy the shares at their market value,so Henry exercised his share options on 14 April 2005 and will sell the shares next week, on 20 April 2005.With the company growing in size, Henry wishes to recruit high quality staff, but the company lacks the funds to paythem in cash. Henry believes that giving new employees the chance to buy shares in the company would help recruitstaff, as they could share in the growth in value of Happy Home Ltd. Henry has heard that there is a particular sharescheme that is suitable for small, fast growing companies. He would like to obtain further information on how sucha scheme would work.Henry has accumulated substantial assets over the years. The family house is owned jointly with Helen, and is worth￡650,000. Henry has a ￡250,000 mortgage on the house. In addition, Henry has liquid assets worth ￡340,000and Helen has shares in quoted companies currently worth ￡125,000. Henry has no forms of insurance, and believeshe should make sure that his wealth and family are protected. He is keen to find out what options he should beconsidering.Required:(a) (i) State how the gift of the 3,000 shares in Happy Home Ltd was taxed. (1 mark)
(ii) Explain the income tax (IT), national insurance (NIC) and capital gains tax (CGT) implications arising onthe grant to and exercise by an employee of an option to buy shares in an unapproved share optionscheme and on the subsequent sale of these shares. State clearly how these would apply in Henry’scase. (8 marks)
(b) The directors of Carver Ltd are aware that some of the company’s shareholders want to realise the value in theirshares immediately. Accordingly, instead of investing in the office building or the share portfolio they areconsidering two alternative strategies whereby, following the sale of the company’s business, a payment will bemade to the company’s shareholders.(i) Liquidate the company. The payment by the liquidator would be ￡126 per share.(ii) The payment of a dividend of ￡125 per share following which a liquidator will be appointed. The paymentby the liquidator to the shareholders would then be ￡1 per share.The company originally issued 20,000 ￡1 ordinary shares at par value to 19 members of the Cutler family.Following a number of gifts and inheritances there are now 41 shareholders, all of whom are family members.The directors have asked you to attend a meeting to set out the tax implications of these two alternative strategiesfor each of the two main groups of shareholders: adults with shareholdings of more than 500 shares and childrenwith shareholdings of 200 shares or less.Required:Prepare notes explaining:– the amount chargeable to tax; and– the rates of tax that will applyin respect of each of the two strategies for each of the two groups of shareholders ready for your meetingwith the directors of Carver Ltd. You should assume that none of the shareholders will have any capitallosses either in the tax year 2007/08 or brought forward as at 5 April 2007. (10 marks)Note:You should assume that the rates and allowances for the tax year 2006/07 will continue to apply for theforeseeable future.
3 Spica, one of the director shareholders of Acrux Ltd, has been in dispute with the other shareholders over plans toexpand the company’s activities overseas. In order to resolve the position it has been agreed that Spica will sell hershares back to the company. Once the purchase of her shares has taken place, the company intends to establish anumber of branches overseas and acquire a shareholding in a number of companies that are resident and trade inoverseas countries.The following information has been obtained from client files and meetings with the parties involved.Acrux Ltd:– An unquoted UK resident company.– Share capital consists of 50,000 ordinary shares issued at ￡1·90 per share in July 2000.– None of the other shareholders has any connection with Spica.The purchase of own shares:– The company will purchase all of Spica’s shares for ￡8 per share.– The transaction will take place by the end of 2008.Spica:– Purchased 8,000 shares in Acrux Ltd for ￡2 per share on 30 September 2003.– Has no income in the tax year 2008/09.– Has chargeable capital gains in the tax year 2008/09 of ￡3,800.– Has houses in the UK and the country of Solaris and divides her time between them.Investment in non-UK resident companies:– Acrux Ltd will acquire between 15% and 20% of each of the non-UK resident companies.– The companies will not be controlled foreign companies as the rates of tax in the overseas countries will bebetween 23% and 42%.– There may or may not be a double tax treaty between the UK and the overseas countries in which the companiesare resident. Where there is a treaty, it will be based on the OECD model treaty.– None of the countries concerned levy withholding tax on dividends paid to UK companies.– The directors of Acrux Ltd are concerned that the rate of tax suffered on the profits of the overseas companieswill be very high as they will be taxed in both the overseas country and in the UK.Required:(a) (i) Prepare detailed calculations to determine the most beneficial tax treatment of the payment Spica willreceive for her shares; (7 marks)
2 Assume that today’s date is 1 July 2005.Jan is aged 45 and single. He is of Danish domicile but has been working in the United Kingdom since 1 May 2004and intends to remain in the UK for the medium to long term. Although Jan worked briefly in the UK in 1986, hehas forgotten how UK taxation works and needs some assistance before preparing his UK income tax return.Jan’s salary from 1 May 2004 was ￡74,760 per annum. Jan also has a company car – a Jaguar XJ8 with a list priceof ￡42,550 including extras, and CO2 emissions of 242g/km. The car was available to him from 1 July 2004. Freepetrol is provided by the company. Jan has other taxable benefits amounting to ￡3,965.Jan’s other 2004/05 income comprises:￡Dividend income from UK companies (cash received) 3,240Interest received on an ISA account 230Interest received on a UK bank account 740Interest remitted from an offshore account (net of 15% withholding tax) 5,100Income remitted from a villa in Portugal (net of 45% withholding tax) 4,598The total interest arising on the offshore account was ￡9,000 (gross). In addition, Jan has not remitted otherPortuguese rental income arising in the year, totalling a further ￡1,500 (gross).Jan informs you that his employer is thinking of providing him with rented accommodation while he looks for a houseto buy. The accommodation would be a two bedroom flat, valued at ￡155,000 with an annual value of ￡6,000. Itwould be made available from 6 August 2005. The company will pay the rent of ￡600 per month for the first sixmonths. All other bills will be paid by Jan.Jan also informs you that he has 25,000 ordinary shares in Gilet Ltd (‘Gilet’), an unquoted UK trading company. Hehas held these shares since August 1986 when he bought 2,500 shares at ￡4.07 per share. In January 1994, abonus issue gave each shareholder nine shares for each ordinary share held. In the last week all Gilet’s shareholdershave received an offer from Jumper plc (‘Jumper’) who wishes to acquire the shares. Jumper has offered the following:– 3 shares in Jumper (currently trading at ￡3.55 per share) for every 5 shares in Gilet, and– 25p cash per shareRequired:(a) Calculate Jan’s 2004/05 income tax (IT) payable. (11 marks)
For a limited company, this will include the money ______ issuing shares, and is known as the share capital. A raise for ;B raised by ;C raising at
The primary purpose of a stock split include (). A.to increase the number of shares outstandingB.reduce the market price of the stock per shareC.reduce earnings per shareD.increase the market activity of the sharesE.increase paid-in capital
阅读以下说明和C++代码。[说明]类Stock的定义中有三处错误，分别在代码的第04、06、10行。请补齐下述代码中的空缺(1)，修改错误并给出修改后该行的完整代码，最后完善程序运行后的输出结果。[C++代码]01 include ＜iostream＞02 using namespace std;03 class Stock{04 protected:05 Stock(){shares=0;share_val=0.0；Output();}06 Stock(int n=0,double pr=3.5): (1) {//初始化shares值为n07 share_val=pr;08 Output();09 };10 void Stock(){};11 void Output(){cout＜＜shares ＜＜':'＜＜share_val＜＜end1;}12 public:13 //成员函数14 private:15 //成员变量16 int shares;17 double share_val;18 };1920 void main(){ //构造三个Stock对象a,b,c21 Stock a(1);22 Stock b;23 Stock c=Stock();24 //其它代码省略，且代码五输出25 }程序运行后的输出结果为：1:3.5(2)(3)
阅读以下说明和C++代码，将解答写入对应栏内。[说明]类Stock的定义中有三处错误，分别在代码的第04、06、10行。请补齐下述代码中的空缺(1)～(3)，修改错误并给出修改后该行的完整代码，最后完善程序运行后的输出结果。[C++程序]01 include＜iostream.h＞02 using namespace std;03 class Stock{04 protected:05 Stock(){shares=0; share_val=0.0;Output();}06 Stock(int n=0，double pr=3.5): (1) {//初始化shares值为n07 share_val=pr;08 Output();09 };10 void～Stock(){};11 void Output()(cout＜＜shares＜＜';'＜＜share val＜＜endl;}12 public:13 //成员函数14 private:15 //成员变量16 int shares;17 double share_val;18 };1920 void main(){ //构造三个Stock对象a,b,C21 Stock a(1);22 Stock b;23 Stock C；Stock();24 //其他代码省略，且代码无输出25 }程序运行后的输出结果为：1:3.5(2)(3)
阅读以下说明和Java代码，请回答问题1和问题2。【说明】己知类Stock和类cxyjava都定义在cxyjava.java文件中，类Stock的定义中第14行前共有四行出现了错误，将下面代码修改正确并完善后的输出结果为：0:01:23【Java代码】01 public class Stock{02 static {03 shares = 0;04 share val = 0.0;O5 }06 public Stock(){getData();}07 public Stock(int n, iht pr=0){08 shares = n;09 share val = pr;10 getData();11 }12 public void getData() {13 System.out.println(shares + ":"+share_val);14 }15 private int shares;16 private int share_val;17 };1819 public class cxyjava{20 public static void main(String args[]) {21 Stock a = (1) ;22 Stock b = new Stock(1,23);23 //其他无输出代码省略24 }25 }请指出错误所在行号并给出该行修改后的完整结果。
阅读下列说明和C++代码，请回答问题1至问题3。【说明】已知下列程序运行时的输出应为：1:11:11:1【C++程序】01 include ＜iostream＞02 using namespace std;03 class Stock{04 protect:05 (1) {};06 Stock(iht n, int pr=1){07 shares = n; share_val=pr;08 };09 void～Stock(){};10 public:11 //成员函数12 void output(){13 (2) ＜＜ shares ＜＜ ":" ＜＜ share val ＜＜ endl;14 }15 private:16 //成员变量17 int shares;18 int share_val;19 };2021 void main(){22 Stock a(1); a.output();23 Stock b; b.output();24 Stock c = Stock(); c.output();25 }请补齐下述代码中的空缺1和2。
(a) The following figures have been calculated from the financial statements (including comparatives) of Barstead forthe year ended 30 September 2009:increase in profit after taxation 80%increase in (basic) earnings per share 5%increase in diluted earnings per share 2%Required:Explain why the three measures of earnings (profit) growth for the same company over the same period cangive apparently differing impressions. (4 marks)(b) The profit after tax for Barstead for the year ended 30 September 2009 was $15 million. At 1 October 2008 the company had in issue 36 million equity shares and a $10 million 8% convertible loan note. The loan note will mature in 2010 and will be redeemed at par or converted to equity shares on the basis of 25 shares for each $100 of loan note at the loan-note holders’ option. On 1 January 2009 Barstead made a fully subscribed rights issue of one new share for every four shares held at a price of $2·80 each. The market price of the equity shares of Barstead immediately before the issue was $3·80. The earnings per share (EPS) reported for the year ended 30 September 2008 was 35 cents.Barstead’s income tax rate is 25%.Required:Calculate the (basic) EPS figure for Barstead (including comparatives) and the diluted EPS (comparatives not required) that would be disclosed for the year ended 30 September 2009. (6 marks)
In the first paragraph, individual borrowing is cited because_____.[A] it shares similarities with the government’s Social Security policies[B] there is no guarantee that it will be profitable in the stock market[C] it is not proper for the brokerage houses to persuade people to borrow money[D] it is an indication of the Bush administration’s serious concern over the stock market
A company is deploying a new file server to consolidate shares from several legacy servers. Which of the following is the BEST method to ensure that the new file shares are being used？（）A、 Setup the new file server and shut down the legacy servers.B、 Remove all the DNS entries for the legacy servers.C、 Create a logon script to remap the old file shares to the new file shares.D、 Go to each users computer， remove all shares and setup the new shares.
Servlet A receives a request that it forwards to servlet B within another web application in the same web container. Servlet A needs to share data with servlet B and that data must not be visible to other servlets in A’s web application. In which object can the data that A shares with B be stored？（）A、 HttpSessionB、 ServletConfigC、 ServletContextD、 HttpServletRequestE、 HttpServletResponse
单选题Investors can reduce risk and still make good profits by ______Ainvesting only in blue chip companies.BMonitoring share prices very closelyCBuying shares gradually over timeDChoosing a variety of investments
问答题Practice 3 Equity securities are known as shares (or stock) in a corporation. Stockholders are considered owners of the corporation. The Articles of Incorporation must state the number of shares and the characteristics of the stock. To issue stock is actually to offer shares of stock for sale. The corporation’s Board of Directors controls when and to whom the corporation’s shares are offered and sold. Outstanding shares—Outstanding shares are shares already issued and purchased by the shareholder or stockholder. Par value—Par value is an arbitrary value assigned to each share in the Articles of Incorporation but does not necessarily reflect the true market value of the stock. Shares may not be issued and sold by the corporation for less than their par value therefore it is sometimes advisable not to state any par value at all or state a par value lower than the estimated market price. No par value allows the Board of Directors to decide each time shares are issued what the price per share will be. In a very large corporation where the stock is publicly traded at a public exchange, such as the New York Stock Exchange, the public demand for the stock of the corporation rather than the Board of Directors determines the selling price of the stock. Capital account—The capital account of a corporation is an entry in the books of the corporation and is determined by multiplying the par or stated value of the corporation’s stock by the number of shares outstanding. For example, if the corporation had sold 1,000 shares of stock which had $10 par value, the capital account would be $10,000.
单选题A company is deploying a new file server to consolidate shares from several legacy servers. Which of the following is the BEST method to ensure that the new file shares are being used？（）A Setup the new file server and shut down the legacy servers.B Remove all the DNS entries for the legacy servers.C Create a logon script to remap the old file shares to the new file shares.D Go to each users computer， remove all shares and setup the new shares.
单选题Investors can reduce risks and still make good profits byAinvesting only in blue chip companies.Bmonitoring share prices very closely.Cbuying shares gradually over time.Dchoosing a variety of investment.
单选题You are the administrator of your Windows 2000 Professional computer. You share severalfolders on your computer， which are accessible to all the users on your company’s network. You want to ensure that you have correctly assigned the appropriate permissions to all the shares.Where can you view all the shares in use on your computer， so as to verify the permissions as quickly as possible？ （）AControl Panel Data Sources （ODBC）.BControl Panel System Tools Shared Folders.CComputer Management System Tools System Information.DComputer Management System Tools Shared Folders Open Files.EComputer Management System Tools Shared Folders Sessions.FComputer Management System Tools Shared Folders Shares.
单选题The anthropologists would have considered their research a success if they would have found a language that shares lexical elements with the Borneans they were studying.Aif they would have found a language that shares lexical elements with the Borneans they were studyingBhad they found a language that shares lexical elements with that of the Borneans they were studyingCif they found a language that shares lexical elements with the Borneans they were studyingDif they had found a language that shares lexical elements with the Borneans they were studyingEif they would have found a language that shares lexical elements with that of the Borneans they were studying