31191023534 - Võ Hà Mai 

Nhà của tôi  Các khoá học của tôi  KTQTE1-K45-KIC02-S4-NXH  Topic 2. Property, Plant and Equipment (PPEs)  Quizzes -
Topic 2

Bắt đầu vào lúc Chủ nhật, 31 Tháng mười 2021, 9:51 PM
State Finished
Kết thúc lúc Chủ nhật, 31 Tháng mười 2021, 10:21 PM
Thời gian thực hiện 29 phút 29 giây
Điểm 18,00/20,00
Điểm 9,00 out of 10,00 (90%)

Câu Hỏi 1 Hoàn thành Đạt điểm 1,00 trên 1,00

W bought a new printing machine. The cost of machine was $80,000. The installation cost was $5,000 and
the employees received training on how to use the machine, at a cost of $2,000. Before using the machine
to print customer’s order, a test was undertaken and the paper and ink cost $1,000. What should be the
cost of the machine in the company’s statement of financial position?

Select one:
a. $88,000
b. $86,000
c. $85,000
d. $80,000
Câu Hỏi 2 Hoàn thành Đạt điểm 1,00 trên 1,00

What is the purpose of charging depreciation in accounts?

Select one:
a. To allocate the cost of a non-current asset over the accounting periods expected to benefit from its use
b. To reduce the cost of the asset in the statement of financial position to its estimated market value
c. To ensure that funds are available for the eventual replacement of the asset
d. To account for the ‘wearing out’ of the asset over its life

Câu Hỏi 3 Hoàn thành Đạt điểm 1,00 trên 1,00

In an exchange with
commercial substance, Huang Company traded equipment with a cost of $8,200,000
and book value of $3,120,000 and gave $4,698,000 cash. The old machine had a
fair value of $2,960,000.
Which of the following journal entries would Huang
make to record the exchange?

a. Dr Equipment:
7,658,000; Dr Accumulated Depreciation: 542,000/ Cr Equipment: 8,200,000

b. Dr Equipment:  7,658,000; Dr Loss on disposal: 160,000; Dr Accumualted

Depreciation: 5,080,000 / Cr
Equipment: 8,200,000; Cr Cash: 4,689,000

c. Dr Accumulated
Depreciation: 5,080,000; Dr Equipment: 7,818,000/ Cr Equipment: 8,200,000; Cr
Cash:
4,689,000

d. Dr
Equipment: 8,208,000 / Cr Equipment: 8,200,000; Cr Cash: 8,000
Câu Hỏi 4 Hoàn thành Đạt điểm 1,00 trên 1,00

The carrying value of a company’s non-current assets was $200,000 at August 20X0. During the year ended
31 Jul 20X1, the company sold non-current assets for $25,000 on which it made a loss of $5,000. The
depreciation charge for the year was $20,000. What was the carrying value of non-current assets at 31 Jul
20X1?

Select one:
a. $160,000
b. $150,000
c. $180,000
d. $155,000

Câu Hỏi 5 Hoàn thành Đạt điểm 1,00 trên 1,00

A company bought a property 4 years ago from 1 Jan for $170,000. Since then property prices have risen
substantially and the property has been revalued at $210,000. The property was estimated as having a
useful life of 20 years when it was purchased. What is the balance on the revaluation surplus reported in the
statement of financial position?

Select one:
a. $74,000
b. $136,000
c. $34,000
d. $210,000
Câu Hỏi 6 Hoàn thành Đạt điểm 1,00 trên 1,00

Which of the following statements are correct? 1/ IAS 16 Property, plant and equipment requires entities to
disclose the purchase date of each asset. 2/ The carrying amount of a non-asset is the cost or valuation of
that asset less accumulated depreciation. 3/ IAS 16 Property, plant and equipment permits entities to make
a transfer from the revaluation surplus to retained earnings for excess depreciation on revalued assets. 4/
Once decided, the useful life of a non-current asset should not be changed.

Select one:
a. 1, 2 and 4
b. 2 and 3
c. 2 and 4
d. 1, 2 and 3

Câu Hỏi 7 Hoàn thành Đạt điểm 1,00 trên 1,00

Ferguson Company purchased a depreciable

asset for $100,000. The estimated residual value is $10,000,
and the estimated
useful life is 10 years. The straight-line method will be used for
depreciation. What is the
depreciation base of this asset?

a. $10,000

b. $100,000

c. $9,000

d. $90,000
Câu Hỏi 8 Hoàn thành Đạt điểm 1,00 trên 1,00

Which of the following should be disclosed for tangible non-current assets according to IAS 16 Property,
plant and equipment? 1/ Depreciation methods used and the total depreciation allocated for the period. 2/
A reconciliation of the carrying amount of non-current assets at the beginning and end of the period. 3/ For
revalued assets, whether an independent valuer was involved in the valuation. 4/ For revalued assets, the
effective date for the revaluation

Select one:
a. 1 and 2
b. 1, 2 and 4
c. 1, 2, 3 and 4
d. 1, 3 and 4

Câu Hỏi 9 Hoàn thành Đạt điểm 1,00 trên 1,00

Which one of the following would occur if the purchase of computer stationary was debited to the computer
equipment at cost account?

Select one:
a. An overstatement of profit and an understatement of non-current assets
b. An understatement of profit and an overstatement of non-current assets
c. An overstatement of profit and an understatement of non-current assets
d. An overstatement of profit and an overstatement of non-current assets
Câu Hỏi 10 Hoàn thành Đạt điểm 1,00 trên 1,00

The sale of a depreciable asset resulting in a loss

indicates that the proceeds from the sale were:

a. Less
than current fair value.

b. Greater than book

value.

c. Greater
than cost.

d. Less than book value.

Câu Hỏi 11 Hoàn thành Đạt điểm 1,00 trên 1,00

A company sells machine B for $50,000 cash on 30 Apr 20X4. Machine B cost $100,000 when it was
purchased and has a carrying value of $65,000 at the date of disposal. What are the journal entries to
record the disposal of machine B?

Select one:
a. Dr Accumulated depreciation: $35,000; Dr Cash: $50,000 / Cr Non-current assets – cost: $65,000; Cr
Profit on disposal (SPL): $20,000
b. Dr Accumulated depreciation: $35,000; Dr Non-current assets – cost: $65,000 / Cr Profit on disposal
(SPL): $50,000; Cr Cash: $50,000
c. Dr Accumulated depreciation: $35,000; Dr Loss on disposal (SPL): $15,000; Dr Cash: $50,000 / Cr Non-
current assets – cost: $100,000
d. Dr Accumulated depreciation: $65,000; Dr Loss on disposal (SPL): $35,000 / Cr Non-current assets –
cost: $100,000
Câu Hỏi 12 Hoàn thành Đạt điểm 1,00 trên 1,00

Ecker
Company purchased a new machine on May 1, 2010 for $176,000. At the time of
acquisition, the
machine was estimated to have a useful life of ten years and
an estimated salvage value of $8,000. The
company has recorded monthly
depreciation using the straight-line method. On March 1, 2019, the machine
was
sold for $24,000. What should be the loss recognized from the sale of the
machine?

a. $8,000

b. $3,600

c. $11,600.25

d. $0

Câu Hỏi 13 Hoàn thành Đạt điểm 1,00 trên 1,00

Peterson Company
purchased machinery for $160,000 on January 1, 2015. Straight-line depreciation
has
been recorded based on a $10,000 salvage value and a 5-year useful life.
The machinery was sold on May 1,
2019 at a gain of $3,000. How much cash did
Peterson receive from the sale of the machinery?

a. $23,000

b. $33,000

c. $43,000

d. $27,000
Câu Hỏi 14 Hoàn thành Đạt điểm 1,00 trên 1,00

The term
"depreciable base," or "depreciation base," as it is used
in accounting, refers to

a. The total amount to be charged

(debited) to expense over an asset's useful life.

b. The
cost of the asset less the related depreciation recorded to date.

c. The
acquisition cost of the asset.

d. The
estimated fair value of the asset at the end of its useful life.

Câu Hỏi 15 Hoàn thành Đạt điểm 1,00 trên 1,00

Worthington Chandler Company

purchased equipment for $10,000. Sales tax on the purchase was $500.
Other
costs incurred were freight charges of $200, repairs of $350 for damage during
installation, and
installation costs of $225. What is the cost of the
equipment?

a. $10,000

b. $10,500

c. $11,275

d. $10,925
Câu Hỏi 16 Hoàn thành Đạt điểm 1,00 trên 1,00

Plant assets purchased on long-term credit contracts

should be accounted for at:

a. The
total value of the future payments.

b. The
future amount of the future payments.

c. The present value of the future

payments.

d. None of these answer

choices are correct.

Câu Hỏi 17 Hoàn thành Đạt điểm 1,00 trên 1,00

Solar Products
purchased a computer for $13,000 on July 1, 2018. The company intends to
depreciate it over
4 years using the double-declining balance method. Residual value is $1,000. Depreciation for 2018 is

a. $4,875

b. $3,000

c. $6,500

d. $3,250
Câu Hỏi 18 Hoàn thành Đạt điểm 1,00 trên 1,00

B acquired a lorry on 1 May 20X0 at a cost of $30,000. The lorry has an estimated useful life of four years,
and an estimated resale value at the end of that time of $6,000. B charges depreciation on the straight line
basis, with a proportionate charge in the period of acquisition. What will the depreciation charge for the
lorry be in B’s accounting period to 30 Sept 20X0?

Select one:
a. $2,000
b. $3,000
c. $2,500
d. $5,000

Câu Hỏi 19 Hoàn thành Đạt điểm 0,00 trên 1,00

Which one of the following statements correctly defines non-current assets?

Select one:
a. Non-monetary assets without physical substance that are controlled by the entity and from which
future benefits are expected to flow
b. Assets in the form of materials or supplies to be consumed in the production process
c. Assets which are intended to be used by the business on a continuing basic, including both tangible and
intangible assets that do not meet the IASB definition of a current asset
d. Assets that are held for use in the production of goods or services and are expected to be used during
more than one accounting period
Câu Hỏi 20 Hoàn thành Đạt điểm 0,00 trên 1,00

Which of the following is not a capital expenditure?

a. An
addition

b. Repairs that maintain an asset in

operating condition

c. A betterment

d. A replacement

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