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1、财经网络教育领导品牌_高顿网校 AllRightsReserved版权所有 复制必究1AICPA考试FAR模拟资料二1.FirstCommercialBankreceivedacashcontributionto establishan irrevocablecharitabletrustforthesolebenefitof theOldeTowneMuseum,anot-for-profitorganization.Thetermsof thetrustnameFirstCommercialas thetrustee,requiredistributionof incomeearnedon
2、 thetrusteachyearforthreeyears,and,at theendof thethree-yearperiod,requiredistributionof theprincipalto themuseum.Themuseumwouldaccountforthistransactionas follows:a.Museumwouldnotrecognizetheassetin theyearthetrustwasestablished,butwouldrecognizedistributedearningseachyearas unrestrictedearnings.b.
3、Museumwouldrecognizean equityinterestin theassetsof thetrustat fairvalueas atemporarilyrestrictedcontribution.c.Museumwouldrecognizeabeneficialinterestin theassetsof thetrustat fairvalueasatemporarilyrestrictedcontribution.d.Museumwouldrecognizetheassetas aconditionaltemporarilyrestrictednetassetsub
4、jectto thetermsof thetrust.【答案】c【解析】Choice3is correct.Themuseumandthebankarenotfinanciallyinterrelatedso thetrustwouldbe recognizedas atemporarilyrestrictedasset(abeneficialinterest)andas atemporarilyrestrictedcontribution.Choice1is incorrect.Themuseumwouldrecognizetheassetas abeneficialinterestandt
5、hendisplayincomeandchangesin thefairvalueof theassetas temporarilyrestricted.Distributedearnings,absentanydonorrestrictions,wouldbe recordedas unrestricted.Choice2is incorrect.Themuseumandthebankarenotfinanciallyinterrelatedso thetrustwouldnotbe displayedas an equityinterest.Choice4is incorrect.This
6、is adistracter.Conditionalcontributionsaredependentuponachievementof aconditionpriorto recognition.Conditionalcontributionsaredisplayedasliabilities.Sinceconditionalcontributionsarenotrecognized,theywillnotbe classifiedasnetassets.2.UnderIFRS,whenachangein accountingprincipleis madein thecurrentperi
7、od,thecumulativeeffectadjustmentforthechangeis shownas an adjuestmengtto thebeginningretainedearningson thebalancesheet:财经网络教育领导品牌_高顿网校 AllRightsReserved版权所有 复制必究2a.As of thedateof thechangeb.At thebeginningof thepriorperiodc.At theendof thepriorperiodd.At theendof thecurrentperiod【答案】b【解析】Choicebis
8、 correct.UnderIFRS,whenan entityrecordsachangein accountingprinciple,theentitymust(ataminimum)presentthreebalancesheets(endof currentperiod,endof priorperiod,andbeginningof priorperiod)andtwoof eachotherfinancialstatement(currentperiodandpriorperiod).Thecumulativeeffectadjustmentis shownas an adjust
9、mentto beginningretainedearningson thebalancesheetforthebeginningof thepriorperiod.Choice1is incorrect.Thecumulativeeffectof thechangeis notreportedas an adjustmenttobeginningretainedearningson thedatethedecisionis made.Choice3is incorrect.Thecumulativeeffectof thechangeis notreportedas an adjustmen
10、ttobeginningretainedearningsat theendof thepriorperiod.Choice4is incorrect.Thecumulativeeffectof thechangeis notreportedas an adjustmenttobeginningretainedearningsat theendof theperiodin whichthedecisionis made.3.At December31,BrenCo.hadthefollowingdeferredtaxitemsAdeferredtaxassetof$90，000relatedto
11、 acurrentasset.Adeferredtaxliabilityof$75,000relatedto anoncurrentasset.Whichof thefollowingwillBrenreporton itsDecember31 balancesheetunderIFRS?A.Anoncurrentdeferredtaxliabilityof$75,000andacurrentdeferredtaxassetof$90，000.B.Anoncurrentdeferredtaxliabilityof$75,000andanoncurrentdeferredtaxassetof$9
12、0，000.C.A$15,000currentdeferredtaxasset.D.A$15,000noncurrentdeferredtaxasset.【答案】d【解析】Choice4is correct,UnderIFRS,alldeferredtaxassets(DTA)anddeferredtaxliabilities(DTL)arenettedandthenetamountis reportedas noncurrenton thebalancesheet:$75,000DTL-$90,000DTA=Net$15,000DTAreportedas noncurrentChoice1i
13、s incorrect,UnderIFRS,alldeferredtaxassets(DTA)anddeferredtaxliabilities(DTL)arenettedandthenetamountis reportedas noncurrenton thebalancesheet.Choice2is incorrect,underIFRS,alldeferredtaxassetsanddeferredtaxliabilitiesarenettedandreportedas noncurrent.财经网络教育领导品牌_高顿网校 AllRightsReserved版权所有 复制必究3Choi
14、ce3is incorrect,UnderIFRS,alldeferredtaxassets(DTA)anddeferredtaxliabilities(DTL)arenettedandthenetamountis reportedas noncurrent,notcurrent,on thebalanceSheet.4.MarvinCorporationsignedafive-yearleaseagreementon January1,Year1,in atransactionproperlyclassifiedas acapital(finance)lease.Thepresentvalu
15、eof the$125,000minimumleasepaymentsdiscountedat 10 percentat thedateof signingwas$600,000.Marvinowed$125,000at thedateof signingandfiveinstallmentsof$125,000dueon December31 of eachyear,startingon December31,Year1.WhatshouldMarvinrecordas thecurrentmaturityon theleaseat December31,Year2?a.31,225b.93
16、,775c.312,250d.85,250【答案】b【解析】Choice2is correct.An amortizationof theMarvinCorporationleaseoverthefirstthreeyearsof itstermis displayedbelow.Thecurrentmaturitiesof theleaseatheendof thesecondyearrepresenttheprincipalpaymentsduein thethirdyearcomputedas follows:Choice1is incorrect.Theinterestpayablei
17、n year3wouldnotbe displayedas acurrentmaturity.Choice3is incorrect.Thetotalamountduewouldnotbe displayedas acurrentmaturity.Choice4is incorrect.Theprincipalamountpaidin Year2wouldnotbe classifiedas acurrentmaturityat theendof Year2;it wouldhavebeenclassifiedas acurrentmaturityat theendof Year1.财经网络教
18、育领导品牌_高顿网校 AllRightsReserved版权所有 复制必究45.Able,BakerandConeformapartnershipon January1.Conecontributedhispickuptruckwithabookvalueof$10,000andafairmarketvalueof$20,000to thepartnershipinexchangeforaone-thirdinterest,properlyaccountedforusingthebonusmethod.AbleandBakerbothcontribute$10,000.Theassethasa
19、projectedusefullifeof tenyears.Atthetimethepartnershipis formed,theassetwillbe recordedat:a.$20,000b.$18,000c.$10,000d.$9,000【答案】a【解析】Choice1is correct.Contributedassetsarerecordedat theirfairmarketvalue.Thepartnershipwouldrecordtheassetat$20,000.Choice2is incorrect.Thecontributedassetwouldnotbe imp
20、actedby depreciationon thedateof formation.Choice3is incorrect.Thenetbookvalueis notthevaluationof theasseteventhoughthecapitalaccountof Coneusingthebonusmethodis$10,000.Choice4is incorrect.Theoriginalbookvalueof theassetnetof adepreciationamountisnotcorrect.参与 AICPA考试的考生可按照复习计划有效进行，另外高顿网校官网考试辅导高清课程已经开通，还可索取 AICPA考试通关宝典，针对性地讲解、训练、答疑、模考，对学习过程进行全程跟踪、分析、指导，可以帮助考生全面提升备考效果。更多详情可登录高顿网校官网或关注高顿AICPA官方微信公众号gaodunaicpa进行咨询。