成功哪有看起来那么容易?在备考的路上,最有希望通过的人总是最孤独的。这个时候,只要我们坚持初心,持之以恒,才能滴水穿石,获得最终得突破。每日坚持练习两道aa考试题目,坚持下去,你会发现一个不一样的自己~

1[单选题]On 1 September X0,W Co purhased a property for $300,000The property had a useful life of 50 years and as depreiated on a straightline basis On 1 September X5, the property as revalued to $450,000 The remaining useful life at the date as 45 years The ompany ishes to make the alloed transfer of exess depreiation beteen the revaluation surplus and retained earnings

Whih of the folloing orretly reords the transfer at 31 August X6?

选项:

DEBIT Credit

A Retained earnings $4,000 Revaluation surplus $4,000

B Revaluation surplus $4,000 Retained earnings $4,000

C Retained earnings $10,000 Revaluation surplus $10,000

D Revaluation surplus $10,000 Retained earnings $10,000

2[单选题]Z purhased some plant on 1 January X0 for $40,000 The payment for the plant as orretly entered in the ash book but as entered on the debit side of the plant repairs aount Y harges depreiation on the straight line basis at % per year, ith a proportionate harge in the years of aquisition and disposal, and assuming no srap value at the end of the life of the asset

Ho ill Y s profit for the year ended 31 Marh X0 be affeted by the error?

选项:

A Understated by $30,400

B Understated by $36,100

C Understated by $38,000

D Overstated by $1,900

 

1【答案】B。

解析:The remaining useful life is 45 years from 1 September X0 to 1 September X5 The exess depreation is the ne depreiation amount of $10,000($450,00045 years) less the old depreiation harge of $6,000 ($300,00050 years) hih is $4,000 This amount should be debited from the revaluation surplus and redited to retained earnings eah year

知识点:Revaluation of nonurrent assets

2【答案】C。

解析:

DR Property, plant and equipment 40,000

CR Plant repairs 40,000

DR Depreiation expense 2,000(40,000*%*312)

CR Aumulated depreiation 2,000

Profit is understated by $40,000 $2,000 = $38,000

知识点:Reognitiondepreiation of property, plant and equipment