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ACCA - CAT | Paper T6 - Drafting Financial Statements Solved Past Papers

ACCA - CAT | Paper T6 - Drafting Financial Statements Solved Past Papers

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Published by ulitmate420
this document contains the solved past papers for ACCA CAT exam course paper T6
for more free ACCA and CAT resources Visit
http://kaka-pakistani.blogspot.com
this document contains the solved past papers for ACCA CAT exam course paper T6
for more free ACCA and CAT resources Visit
http://kaka-pakistani.blogspot.com

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Published by: ulitmate420 on May 08, 2009
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Certified ACCounting teChniCiAn exAminAtion
SAmple multiple ChoiCe queStionS – June 2009
Paper T6 (INT)Drafting Financial Statements
Sc A y
All questions are compulsoryNote: Section B of the actual exam paper will contain three written questions
FOR FREE CAT & ACCA RESOURCES VISIT: http://kaka-pakistani.blogspot.com
 
2
t w ss a yca  s a w aa  Sc A   aa a  J 2009was. t w b a a   ss  sc A.A ss  Sc A w b w w aks ac.1
Aye and Bee are in partnership sharing profits and losses in the ratio 3:2 respectively. The partners’ capital and currentaccount balances at the beginning of the year were as follows:
Aye Bee$ $
Current accounts 7,500CR 2,100CRCapital accounts 12,000CR 9,000CR The partnership made a profit of $100,000 for the year. Aye’s drawings were $9,200, and Bee’s were $7,320.
Wa s Ay’s c acc baac b a     ya?A
$67,500
B
$58,300
C
$76,700 
d
$16,700
(2 aks)2
At 1 May 2009 Tibor purchased six million of Kinnot’s ten million $1 ordinary shares for $6,000,000. At that dateKinnot had net assets with a fair value of $8,450,000 and its share price was $1.10. It is group policy to value thenon-controlling interest at the fair value of the subsidiary’s identifiable net assets using the market value of the sharesat acquistion.
Wa s  a w  acs  K?A
$930,000 
B
$2,450,000 
C
$1,550,000 
d
$1,950,000
(2 aks)3 Wc   w  sas a cc?A
If all the conditions specified in IAS 38 Intangible assets are met, the directors can chose whether to capitalise thedevelopment expenditure or not.
B
Amortisation of capitalised development expenditure will appear as an item in a company’s statement of changesin equity.
C
Capitalised development costs are shown in the statement of financial position as non-current assets.
d
Capitalised development expenditure must be amortised over a period not exceeding five years. 
(2 aks)
FOR FREE CAT & ACCA RESOURCES VISIT: http://kaka-pakistani.blogspot.com
 
3
4
 
Acc  iAS i psa  faca Sas, wc   w s c aa   sa cas  y:(1) ta csv c   ya(2) dvs(3) lss  sa  vss.(4) iss  sa caaA
1, 2 and 4 only
B
1, 3 and 4 only
C
1 and 3 only
d
1, 2, 3 and 4
(2 aks)5
A property company received cash for rent totalling $628,950 in the year ended 31 May 2009. Figures for rent inadvance and in arrears at the beginning and end of the year were: 
31 May 2008 31 May 2009$ $
Rent received in advance 76,950 66,525Rent in arrears (all subsequently received) 31,725 36,300
Wa a s aa   cay’s c sa   ya  31 may 2009  ac?A
$613,950 
B
$634,800 
C
$623,100 
d
$643,950 
(2 aks)6
 
Acc  iAS 10 evs a  r p, wc   abv aa vs wc cc a  a,  a ajs   s   aca sas?(1) A ss  sas  ac as.(2) A  sy s   cay’s vy ( cay’s  cc sas s  ac).(3) Sa  ss a cs  s  vy  a   a(4) t bakcy  a aj cs, w a sbsaa b sa a   a.A
3 and 4 only 
B
1, 2 and 3
C
2 and 3 only 
d
2 and 4 only 
(2 aks)
 
FOR FREE CAT & ACCA RESOURCES VISIT: http://kaka-pakistani.blogspot.com

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