FIRST PB FAR Solutions PDF
FIRST PB FAR Solutions PDF
Mani la
Cash 850,000
Accounts receivable (1,650,000 – 250,000) 1,400,000
Prepaid tax (600,000 – 250,000) 350,000
Current assets 2,600,000 A
Carrying amount on December 31, 2023 if not held for sale (5M – 2M) 3,000,000
Recoverable amount 2,700,000
Measurement (lower between carrying amount on December 31, 2023 and recoverable amount) 2,700,000
Carrying amount on December 31, 2023 per book 3,500,000
Loss on reclassification ( 800,000) B
21.
Date Units Unit cost Total cost
January 1 10,000 100.00 1,000,000
January 15 6,000 300.00 1,800,000
Balance 16,000 175.00 2,800,000
January 20 (9,000) 175.00 (1,575,000)
January 25 4,000 200.00 2,000,000
Balance 11,000 293.18 3,225,000
January 26 (1,000) 500.00 (500,000)
Balance 10,000 272.50 2,725,000 A
24. Cost of goods available for sale (500,000 + 4,000,000 – 200,000) 4,300,000
Cost of goods sold (5,600,000 – 400,000 = 5,200,000 x 75%) ( 3,900,000)
Cost of inventory damaged by flood 400,000 B
25. Goods available for sale at retail – average (9,200,000 + 400,000 – 600,000) 9,000,000
Cost ratio – average (6,000,000 / 9,000,000) 66 and 2/3%
37. Derivative asset – December 31, 2023 (12% - 8% = 4% x 6M = 240,000 x 2.4) 576,000 C
Denominator of fraction (7 + 6 + 5 + 4 + 3 + 2 + 1) 28
Theory
51. C 61. B
52. C 62. C
53. D 63. C
54. D 64. C
55. C 65. D
56. B 66. C
57. D 67. B
58. D 68. C
59. B 69. B
60. C 70. D
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