Câu 1 (2 marks):

White Cliffs Co (US company), whose year end is 31 December, buys some goods from
Rinka SA of France on 30 September 2016. The invoice value is €70,000 and is due for
settlement in 31 January 2017. The exchange rate moved as follows.
30 September $1 = 1.60 €
31 December $1 = 1.40 €
31 January $1 = 1.80 €
Required
State the accounting entries in the books of White Cliffs Co.
Câu 2 (2 marks): PRESENTATION OF ITEMS IN THE FINANCIAL
STATEMENTS
Consider the following items for Cooper Ltd at 30 June 2013:
(a) the effect on retained earnings of the correction of a prior period error
(b) revaluation gain on land (not reversing any previous revaluation)
(c) income tax expense
(d) allowance for doubtful debts
Required State whether each item is reported:
1. in the statement of financial position
2. in profit or loss in the statement of profit or loss and other comprehensive income
3. in other comprehensive income in the statement of profit or loss and other
comprehensive income
4. in the statement of changes in equity
Câu 3 (2đ): Identify the following events which are adjusting events or non-
adjusting events. Prepare any necessary entries to adjust.
1. Bankruptcy of a debtor after the end of the reporting period that confirms that a loss
existed at the end of the reporting period on trade receivables.
2. Sales of inventories at less than cost
3. Announcing a plan to discontinue on operation.
4. Rights issue of equity shares.
Câu 4 (1đ): On Dec 31, 14, A Ltd acquired a building with $20,000. The company
depreciated the building on a straight-line basis, with an estimated useful life of 10 years
and residual value of $2,000. On Dec 31, 15, the manager reconsider the residual value
and change it into $3000.
Required
Prepare any necessary entries in A’s financial statements as at Dec 31, 15.
Câu 5 (3đ)
A Ltd acquired a 30% interest in B Ltd for $80,000 on 1 January 2015. The equity of B
Ltd at the
acquisition date was:
Share capital $ 80 000
Retained earnings 120 000
All the identifiable assets and liabilities of B Ltd were recorded at fair value. Profits and
dividends for the years ended 31 Dec 2015 to 2016 were as follows:
Profit Before tax Dividens paid Asset Revaluation
2015 ($90,000) $ 40,000
2016 $50,000 $70,000

Notes: Income tax rate is 30%. In 2016, B Ltd transferred $5,000 to general reserve.
Prepare journal entries in the records of A Ltd for each of the years ended 31 Dec 2015
to 2016 in relation to its investment in the associate/joint venture, B Ltd.
Bài 1. Final term revision – chapter 3
Consider the flowing item of NP Ltd at 30 April 2016
a) The effect on retained earnings of the correction of a prior period error
b) Revaluation gain an land( not reserving any previous revalue)
c) Income tax expense
d) Allowance for doubtful debts
Required: Matching with below
1. in the statement of financial position
2. in profit or loss in the statement of profit or loss and other comprehensive income
3. in other comprehensive income in the statement of profit or loss and other
comprehensive income
4. in the statement of changes in equity
Bài 2. Question 3: The general ledger trial balance of QN Ltd includes the following
accounts at 31 Dec 2016:
(a) Sales revenue $1,500,000
(b) Interest revenue $25,000
(c) Gain on sale of plant and equipment 10,000
(d) Cost of sales 1,200,000
(e) Finance expenses 15,000
(f) Selling and distribution costs 150,000
(g) Administrative expenses 80,000
Additional information.
A revaluation gain of $15 000 net of tax was recognised for available- for-sale investments
held during 2016.
No available-for-sale investments were remeasured at the end of year
• QN Ltd uses the single statement format for the statement of profit or loss and other
comprehensive income and classifies expenses by function.
Income tax rate is 20%
Required: Prepare the statement of profit or loss and other comprehensive income of QN
Ltd for the year ended 31 Dec 2016, showing the analysis of Other income and expenses
in the statement.
Bài 3. The general ledger trial balance of XYZ Ltd includes the following accounts
that are reported in the statement of financial position:
(a) Finished goods $10,000
(b) Accrued wages and salaries $6,000
(c) Prepaid insurance $8,000
(d) Property $20,000
(e) Goodwill $ 52,000
(f) Lease liability $ 70,000
(g) Unearned revenue $4,000
(h) Trading securities held $3,000
Additional information:
XYZ Limited classifies assets and liabilities into current and non- current categories and
uses the minimum line items permitted under IAS 1.
Lease liability due after 31 Dec 2021.
Required: Present the current assets, current liabilities sections of the statement of
financial position of XYZ Limited as at 31 Dec 2020.
Bài 4. Final term revision-Chapter 4
Identify the following events which are adjusting events or non-adjusting events Prepare
any necessary entries to adjust.
a) Bankruptcy of a debtor after the end of the reporting period that confirms that a lot
existed at the end of the reporting on trade receivable
b) Sales of inventory less than cost
c) Announcing a plan to discontinue on operation
d) Right issue of equity shares to increase capital, that the plan in Now 2016
Identify the following events which are adjusting events or non-adjusting events. Prepare
any necessary entries to adjust for the year end 31 Dec 2016
e) Pinewood Limited is a furniture manufacturing company. The company was informed
on 1 February 2017 that one of its major customers, Cushion Limited, had gone into
liquidation. The liquidator indicated that no payments would be made to unsecured
creditors. The amount owed by Cushion Limited on 1 February 2017 amounted to
€55,000, of which €30,000 related to goods invoiced on 10 December 2016 and €25,000
to goods invoiced on 15 January 2017.
f) Commencing major litigation arising events that occurred Feb, 15, 2017
Bài 5. Identifine the flowing events, Which are ajusting event or Non- adjusting
event
a. Entity B hold a receivable. Shortly after reporting period, the debtor files for
Bankrupcy
b. Sale price of inventory less than cost after the reporting period
c. Significant change in tax rates and enacted tax law
d. Resolution after the reporting period of a court case that confirms a present obligation,
Know that existing is less than present obligation.
Bài 6. Final term revision-Chapter 5
On jan,01,10. NPA Ltd acquired a building with $30.000. NPA Depreciation the building
on a straight-line basis, with an estimated useful life of 5 year and residual value of
$3000. On Dec 31, 12 the manager reconsider the residual value and change it into
$5000.
Required: Prepare any necessary entries in NPA'S Financial statement Dec 31,13.
Bài 6. Test
1. On Dec 31, 19, NPA Ltd acquired a building with $40,000. The company depreciated
the building on a straight-line basis, with an estimated useful life of 10 years and a
residual value of $4,000. On Dec 31, 20, the manager reconsiders the residual value and
changes it to $3000.
2. On 1 July 2020 Company ABC acquired a building with $400,000. The company
depreciated the building on a straight-line basis, with an estimated useful life of 10 years
and residual value of $4,000. On 1 Jan 2016, Company ABC's directors reviewed the
depreciation rates for similar buildings used in its industry and decided that the buildings
should be depreciated 10 years more, with same residual value. Company ABC's
reporting period ends on Dec 31.
Required: Provide a solution to solve these changes in accounting. (Show the calculation
of this change, prepare necessary entries)
Bài 7. Chapter 6
QN Ltd acquired a 30% interest in PA Ltd for $66.000 on January 2015. The equity of
PA Ltd at the acquisition date was:
Share capital $100.000
Retained earning $120.000
All the identifiable asset and liabilities of PA Ltd were recorded at fair value. Profit and
dividends for the year end 31 Dec 2015 to 2016 ware as follows:
Profit before the tax Dividends paid Asset revaluation
2015 $80,000 20,000 $40,000
2016 ($50,000) $20,000
Note: income tax rate is 20%, in 2016 PA Ltd transferred $5000 to general reserve.
Require: Prepare journal entries in the record of QN Ltd for each of the year ended 31
Dec 2015 to 2016 in relation to its investment in the associate/joint venter, PA Ltd.
Bài 8. Test 2
AA Ltd acquired a 30% interest in BB Ltd for $80,000 on 1 January 2019 by contributing
a Equipment and cash. Know that, the Equipment has $30,000 in fair value. The equity of
BB Ltd at the acquisition date was:
Share capital $ 50 000
Retained earnings $170 000
All the identifiable assets and liabilities of B Ltd were recorded at fair value. Profits and
dividends for the years ended 31 Dec 2019 to 2020 were as follows
Profit before the tax Dividends paid Asset revaluation
2019 ($60,000) $40,000
2020 $80,000 $70,000 ($20,000)
Notes: The income tax rate is 20%
In 2020, B Ltd transferred $8,000 from retained earnings to general reserve
Required: Prepare journal entries in the records of AA Ltd for each of the years ended 31
Dec 2019 to 2020 in relation to its investment in the associate, BB Ltd
Bài 9. Q2-Chapter 3
PRESENTATION OF ITEMS IN THE FINANCIAL STATEMENTS
**Consider the following items for Cooper Ltd at 30 June 2013:
(a) contingent liabilities
(b) the effect on retained earnings of the correction of a prior period error
(c) cash and cash equivalents
(d) capital contributed during the year
(e) revaluation gain on land (not reversing any previous revaluation)
(f) judgements that management has made in classifying financial assets
(g) income tax expense
(h) provisions.
Required State whether each item its reported
1. in the statement of financial position
2. in profit or loss in the statement of profit or loss and other comprehensive income
3. in other comprehensive income in the statement of profit or loss and other
comprehensive income
4. in the statement of changes in equity
Bài 10. Chapter 3-Review of Final test
Exercise 2a : Consider the flowing item of NP Ltd at 30 April 2016
a) The effect on retained earnings of the correction of a prior period error
b) Revaluation gain a Property (not reserving any previous revalue)
c) Accumulated Depreciation Equipment
d) Allowance for doubtful debts
e) Valuation gain on trading instruments
f) Interest in income
g) Gain from translation financial statement
Required State whether each item its reported
1. in the statement of financial position
2. in profit or loss in the statement of profit or loss and other comprehensive income
3. in other comprehensive income in the statement of profit or loss and other
comprehensive income
4. in the statement of changes in equity
Bài 12. The general ledger trial balance of NP Limited includes the following asset
accounts at 30 June 2013.
 (a) Inventory $120,000
(b) Trade receivables $120,000
(c) Prepaid insurance 8,000
(d) Listed investments held for 20,000
trading purposes at fair value
(e) Available-for-sale investments 80,000
(f) Cash 30,000
(g) Deferred tax asset 15,000
The general ledger trial balance of NP Limited includes the following asset accounts at
30 June 2013.
(a) Finish goods $110,000
(b) Trade receivables 120,000
(c) Prepaid insurance 8,000
(d) Listed investments held for trading 20,000
purposes at fair value
(e) Available-for-sale investments 80,000
(f) Cash 30,000
(g) Deferred tax asset 15,000
(h) Work in Process 12,000
(i) Raw material 8,000
Additional information
NP Limited's available-for-sale investments are held as part of a long-term investment
strategy.
The company classifies assets and liabilities using a current/non-current basic
Required: Prepare current asset section of the statement of financial position of NP Ltd as
at 30 June 2013, using the minimum line items permitted under IAS 1.
Bài 13. Final test review
Question 2: Identify the following events which are adjusting events or non-adjusting
events Prepare any necessary entries to adjust..
Bankruptcy of a debtor after the end of the reporting period that confirms that a lot
existed at the end of the reporting on trade receivable
Announcing a plan to discontinue on operation
Sales of inventory less than cost
QN Limited is a furniture manufacturing company. The company was informed on 1
February 2017 that one of its major customers, Cushion Limited, had gone into
liquidation. The liquidator indicated that no payments would be made to unsecured
creditors. The amount owed by Cushion Limited on 1 February 2016 amounted to
€55,000, of which €30,000 related to goods invoiced on 10 December 2015 and €25,000
to goods invoiced on 15 January 2016.
Question 3: On Dec 31,12. NPA Ltd acquired a building with $40.000. NPA
Depreciation the building on a straight-line basis, with an estimated useful life of 5 year
and residual value of $2000. On Dec 31, 13 the manager reconsider the residual value
and change it into $4000
Required: Prepare any necessary entries in NPA'S Financial statement Dec 31,14
Question 4: ABC Ltd acquired a 30% interest in PA Ltd for $800.000 on January 2015.
The equity of PA Ltd at the acquisition date was:
Share capital $100.000
Retained earning $120.000
All the identifiable asset and liabilities of ABC Ltd were recorded at fair value. Profit and

dividends for the year end 31 Dec 2015 to 2016 were as follows:
Profit before the tax Dividends paid Asset revaluation
2015 $60,000 $20,000 ($20,000)
2016 ($50,000) $20,000
Notes: The income tax rate is 20%
Question 5: AAA Ltd acquired a 30% interest in PA Ltd for $80,000 on 1 January 2020
by contributing a machine and cash. Know that, the machine has $25,000 in fair value.
The equity of of PA Ltd at the acquisition date was:
Share capital $100.000
Retained earning $120.000
All the identifiable asset and liabilities of PA Ltd were recorded at fair value. Profit and
dividends for the year end 31 Dec 2020 to 2021 were as follows:
During the 2020 and 2021 year,
PA Ltd had been declared but not paid in 2020
Profit before the tax Dividends paid Asset revaluation
2020 ($60,000) $50,000
2021 $80,000 $20,000 ($20,000)
Notes:
The income tax rate is 20%
In 2021, PA Ltd transferred $6,000 from retained earnings to general reserve.