(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 t
题目
(iii) Tyre has entered into two new long lease property agreements for two major retail outlets. Annual rentals are paid
under 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 occur
because of the outlets’ location. Tyre has analysed the leases and has decided that one is a finance lease and
one 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 ended
31 May 2006.
(The mark allocation is shown against each of the above items)
相似考题
更多“(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 t”相关问题
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第1题：
It is over two years since my brother ______the army.
A. joins
B. joined
C. has joined
D. had joined
正确答案：B18．答案为B 我兄弟参军已经两年多了。在句型his...year(s)since...中主句时现在时， since从句中的谓语动词用一般过去时。
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第2题：
(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)
正确答案：
(ii) Former administrative building
The land and buildings of the former administrative centre are accounted for as separate elements. The demolition of the
building is an indicator of the impairment of the property under IAS36. The building will not generate any future cash flows
and its recoverable amount is zero. Therefore, the carrying value of the building will be written down to zero and the loss
charged to profit or loss in the year to 31 May 2006 when the decision to demolish the building was made. The land value
will be in excess of its carrying amount as the company uses the cost model and land prices are rising. Thus no impairment
charge is recognised in respect of the land.
The demolition costs will be expensed when incurred and a provision for environmental costs recognised when an obligation
arises, i.e. in the financial year to 31 May 2007. It may be that some of these costs could be recognised as site preparation
costs and be capitalised under IAS16.
The land will not meet the criteria set out in IFRS5 ‘Non-current Assets Held for Sale and Discontinued Operations’ as a noncurrent
asset which is held for sale. IFRS5 says that a non-current asset should be classified as ‘held for sale’ if its carrying
amount will be recovered principally through a sale transaction rather than through continuing use. However, the non-current
asset must be available for immediate sale and must be actively marketed at its current fair value (amongst other criteria) and
these criteria have not been met in this case.
When the building has been demolished and the site prepared, the land could be considered to be an investment property
and accounted for under IAS40 ‘Investment Property’ where the fair value model allows gains (or losses) to be recognised inprofit or loss for the period. -
第3题：
—How long will your trip take? —_______
A.It’will start tomorrow.
B.It has two days.
C.It took two weeks.
D.It will take about two weeks.
参考答案：D
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第4题：
必需氨基酸不包括A、Met
B、Lys
C、Phe
D、Tyr
E、Trp
参考答案：D
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第5题：
She ought to stop working.She has a headache because she( )too long.A.has been reading
B.had read
C.is reading
D.read答案：A解析：考查现在完成进行时。从第一句话She ought to stop working可知，她从过去读书到现在都没停过，故本题用现在完成进行时。分析选项可知，符合题意的只有A项。故本题选A。句意：她应该停下来休息一会，读书太久会头疼。 -
第6题：
Rose（）two cousins in New York
- A、has got
- B、having got
- C、is having
正确答案:A -
第7题：
下列哪种氨基酸中含有吲哚基团（）
- A、Phe
- B、Pro
- C、Trp
- D、Tyr
- E、His
正确答案:C -
第8题：
So far the construction of the two new bridges over the river （）.
- A、have been completed
- B、has been completed
- C、has completed
- D、have completed
正确答案:B -
第9题：
单选题Jim, ______ two of his colleagues, ______ for the annual garden competition.Atogether with; have joined
Balong with; has entered
Cexcept for; has taken part
Dapart from; have participated
正确答案： C解析：
句意：Jim和他的两个同事报名参加每年举行的园艺大赛。“together with”与“along with”都是“与…一起，连同”的意思，在句中做插入语，句子真正的主语只有Jim，所以谓语动词要用单数形式。“except for”与“apart from”都是“除…之外”的意思。enter for是固定搭配，意为“报名参加(比赛)”。join，take part和participate都可以与in搭配表示“参加（活动）”。 -
第10题：
单选题This company has two branches: one in Paris and ______ in New York.AAnother
Bone other
Cthe other
Dother
正确答案： B解析：
固定搭配。one…the other意思是“（两个当中的）一个…另一个” 。A项one…another意思是“（三个或三个以上的）另一个”；B项one other 无此用法。句意：这个公司有两个分公司，一个设在巴黎，另一个在纽约。 -
第11题：
单选题Ms. Ravi has already conducted market research _____ two new products.Aaround
Bfrom
Con
Dnear
正确答案： C解析：
句意：拉维小姐已经开始了对两个新产品的市场调查。research on为固定搭配，意为“对……研究”，选择C。 -
第12题：
单选题It has been quite a long time _____ the two companies established a business relationship.Aalthough
Bbecause
Cif
Dsince
正确答案： C解析：
本题考查连词词义辨析。句意：两家公司确立商业关系已经很久了。if意为“如果、假设”，引导条件句；although意为“尽管、虽然”，引导让步状语从句；because意为“因为”，引导原因状语从句；since意为“自从……，既然”，引导时间状语从句。故正确答案为D。 -
第13题：
2 Tyre, a public limited company, operates in the vehicle retailing sector. The company is currently preparing its financial
statements 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 the
customer cancels the order, the deposit is not refundable and Tyre retains it. If the order cannot be fulfilled by
Tyre, the company repays the full amount of the deposit to the customer. The balance of the purchase price
becomes payable on the delivery of the vehicle when the title to the goods passes. Tyre proposes to recognise
the revenue from the deposits immediately and the balance of the purchase price when the goods are delivered
to 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 the
transaction. The discount given is normal for this type of transaction. Tyre has given Hub a buyback option which
entitles Hub to require Tyre to repurchase the vehicles after three years for 40% of the purchase price. The normal
economic 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 ended
31 May 2006.
(The mark allocation is shown against each of the above items)
正确答案：
2 Advice on sundry accounting issues: year ended 31 May 2006
The following details the nature of the advice relevant to the accounting issues.
Revenue recognition
(i) Sale to customers
IAS18 ‘Revenue’ requires that revenue relating to the sale of goods is recognised when the significant risks and rewards are
transferred to the buyer. Also the company should not retain any continuing managerial involvement associated with
ownership or control of the goods. Additionally the revenue and costs must be capable of reliable measurement and it should
be probable that the economic benefits of the transaction will go to the company.
Although the deposit is non refundable on cancellation of the order by the customer, there is a valid expectation that the
deposit will be repaid where the company does not fulfil its contractual obligation in supplying the vehicle. The deposit should,
therefore, only be recognised in revenue when the vehicle has been delivered and accepted by the customer. It should be
treated as a liability up to this point. At this point also, the balance of the sale proceeds will be recognised. If the customer
does cancel the order, then the deposit would be recognised in revenue at the date of the cancellation of the order.
The appendix to IAS18, although not part of the standard, agrees that revenue is recognised when goods of this nature are
delivered to the buyer.
Sale of Fleet cars
The company has not transferred the significant risks and rewards of ownership as required by IAS18 as the buyback option
is expected to occur. The reason for this conclusion is that the company has retained the risk associated with the residual
value of the vehicles. Therefore, the transaction should not be treated as a sale. The vehicles should be treated as an operating
lease as essentially only 60% of the purchase price will be received by Tyre. Ownership of the assets are not expected to be
transferred to Hub, the lease term is arguably not for the major part of the assets’ life, and the present value of the minimum
lease payments will not be substantially equivalent to the fair value of the asset. Therefore it is an operating lease (IAS17).
No ‘outright sale profit’ will be recognised as the risks and rewards of ownership have been retained and no sale has occurred.
The vehicles will be shown in property, plant and equipment at their carrying amount. The lease income should be recognised
on a straight line basis over the lease term of three years unless some other basis is more representative. The vehicles will
be depreciated in accordance with IAS16, ‘Property, Plant and Equipment’. If there is any indication of impairment then the
company will apply IAS36 ‘Impairment of Assets’. As the discount given is normal for this type of transaction, it will not be
taken into account in estimating the fair value of the assets.
The buyback option will probably meet the definition of a financial liability and will be accounted for under IAS39 ‘Financial
Instruments: recognition and measurement’. The liability should be measured at ‘fair value’ and subsequently at amortisedcost unless designated at the outset as being at fair value through profit or loss. -
第14题：
(iv) Tyre recently undertook a sales campaign whereby customers can obtain free car accessories, by presenting a
coupon, 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 unsure
as 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 ended
31 May 2006.
(The mark allocation is shown against each of the above items)
正确答案：
(iv) Car accessories
An obligation should not be recognised for the coupons and no provision created under IAS37 ‘Provisions, Contingent
Liabilities and Contingent Assets’. A provision should only be recognised where there is an obligating event. There has to be
a present obligation (legal or constructive), the probability of an outflow of resources and the ability to make a reliable estimate
of the amount of the obligation. These conditions do not seem to have been met. Until the vehicle is purchased the
accessories cannot be obtained. That is the point at which the present obligation arises, the outflow of resources occurs and
an estimate of the amount of the obligation can be made. When the car is purchased, the accessories become part of the
cost of the sale. The revenue recognised will be the amount received from the customer (the sales price). The revenue will
not be grossed up to include the value of the accessories. -
第15题：
The old man _____ two days after he had been sent to hospital.A died
B would die
C had died
D has died
参考答案：A
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第16题：
Which statement about Belgium is NOT true?A.it is twice as big as Beijing.
B.it has two major ethnic groups.
C.it has gone through quite a few threats of division.
D.it has no government.答案：D解析： -
第17题：
Ireland has a bipolar political party system with two major parties:（）.
ASinn Fein and Fianna Fail
BFianna Fail and Fine Gael
CSinn Fein and Fine Gael
DIRA and Sinn Fein
B
略 -
第18题：
She has been working hard day and night during these years（）she could pay for the lost necklace.
- A、in order that
- B、as long as
- C、the moment
- D、because
正确答案:A -
第19题：
The construction of the new bridge has been（）for two weeks because of the bad weather.
- A、devoted
- B、developed
- C、depended
- D、delayed
正确答案:D -
第20题：
肽链中的氨基酸不利于形成α-螺旋而利于β-转角的形成的是（）
- A、Pro
- B、Ala
- C、Val
- D、Tyr
- E、Leu
正确答案:A -
第21题：
单选题Jackson ______ school two years ago and he ______ for two years.Aleaves; has gone
Bleft; has been away
Cleaves; has been away
Dleft; has gone
正确答案： B解析：
考查动词时态。句意：Jackson两年前离开的学校，他已经离开学校两年了。根据“two years ago”可知，第一空用一般过去时；根据“for two years”可知，第二空用现在完成时，且动词要用延续性动词。故选B。 -
第22题：
单选题The book “Kids Are From Mars, Parents Are From Venus” is mentioned in the third paragraph because______.Ait has the opposite opinion to the book written by the two girls.
Bit has ranked first on the list of best sellers for several times.
Cit has the same theme with the book written by the two girls.
Dit is another book that the two girls have ever written.
正确答案： C解析：
推断题由题干定位到文章第三段。该段主要介绍了一本名为Breaking the Code的书，倒数第二句提到，这本书类似于另一本名为Kids Are From Mars, Parents Are From Venus的书，在于它们均解释了青少年的语言和行为，由此可见两本书的相似之处在于其共同的主题，故答案为C项。选项A的表述与文意相矛盾，故排除。B、D两项文中没有提及，故排除。 -
第23题：
单选题A: If I were you, I’d ride a bike to work. Taking a crowded bus during rush hours is really terrible. B: ______AYeah, riding a bike is a healthful activity. Don’t you think?
BYes, you’re right. Buses are always very crowded during the rush hours.
CThank you for your advice. But my bike has got a flat tyre.
DCertainly. I don’t see why so many people go to work by bus rather than by bike.
正确答案： C解析：
A方用虚拟语气婉转地建议B方不应坐车上班，而应骑车。A项与A方所谈的内容不一致；B项并未表示接受对方忠告与否；D项与A方所说的话更无关系。