6月ACCA F7考试真题及答案

Financial Reporting
(International)
Tuesday 9 June 2009

ALL FIVE questions are compulsory and MUST be attempted
1 Below are the summarised statements of financial position for three companies as at 31 March 2009:
Pacemaker Syclop Vardine
Assets $ million $ million $ million $ million $ million $ million
Non-current assets
Property, plant and equipment 520 280 240
Investments 345 40 nil
—— —- —-
865 320 240
Current assets
Inventory 142 160 120
Trade receivables 95 88 50
Cash and bank 8 245 22 270 10 180
—- —— —- —- —- —-
Total assets 1,110 590 420
—— —- —-
Equity and liabilities
Equity shares of $1each 500 145 100
Share premium 100 nil nil
Retained earnings 130 230 260 260 240 240
—- —— —- —- —- —-
730 405 340
Non-current liabilities
10% loan notes 180 20 nil
Current liabilities 200 165 80
—— —- —-
Total equity and liabilities 1,110 590 420
—— —- —-
Notes:
Pacemaker is a public listed company that acquired the following investments:
(i) Investment in Syclop
On 1 April 2007 Pacemaker acquired 116 million shares in Syclop for an immediate cash payment of
$210 million and issued at par one 10% $100 loan note for every 200 shares acquired. Syclop’s retained
earnings at the date of acquisition were $120 million.
(ii) Investment in Vardine