Question 6 (2 marks)

At the reporting period the company identified the following goods in the warehouse

	Cost, $	Selling price, $	Costs to sell, $
X	25,000	28,000	5,000
Y	15,000	20,000	6,000
Z	10,000	15,000	3,000

At what is inventory presented in Companys statement of financial position?

A. $47,000

B. $50,000

C. $63,000

D. $55,000

Question 7(2 marks)

The cost of the asset is 10,000. To the date the accumulated depreciation is $5,000 and accumulated tax capital allowances amounted to $3,000. Please identify temporary difference amount in regard of the asset.

A. The taxable temporary difference of $10,000

B. The deductible temporary difference of $12,000

C. The taxable temporary difference of $2,000

D. The deductible temporary difference of $8,000

Question 8 (2 marks)

The machine was sold to a customer for $1 million on October 1, 2020. The 2 years service agreement was included in the selling price. This mentioned service agreement is provided as a standalone product for $200,000. On a standalone basis the machines are sold for $850,000.

What revenue should be recognized for the year ended September 30, 2021?

A. $1,050,000

B. $857,143

C. $1,000,000

D. $895,000

Question 9 (2 marks)

Please find the match of the following below

An investment in equity shares of an unrelated company	Amortized cost	Fair value through OCI	Fair value through P/L
An investment in bonds issued by a listed company. It is intended to be held to maturity	Amortized cost	Fair value through OCI	Fair value through P/L
An investment in 8% loan notes that company holds in a business model to collect cash flows and sell	Amortized cost	Fair value through OCI	Fair value through P/L

Question 10(2 marks)

At December 31, 2020 the company made a profit of $10 million. On January 1, 2020 the Company had 10 million equity shares in issue with a par value of 50c each. On 1 July the company made a bonus issue of 1 to 20 shares. What is the companys EPS for the year ended December 31, 2020?

A. 50c

B. 100c

C. 95.2c

D. 90.6c