FAR 1 - FINAL EXAMINATIONS assesses advanced accounting knowledge, focusing on impairment, investments, and financial statement presentation. It evaluates critical thinking and application of international accounting standards.
1,260,000
1,440,000
916,360
720,000
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50,000 unrealized gain
50,000 unrealized loss
100,000 unrealized gain
100,000 unrealized loss
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900,000
950,000
980,000
1,000,000
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1,350,000
1,800,000
2,450,000
0
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The carrying amount of the investment on December 31, 2019 is P4,821,360.
The Unrealized Gain – OCI on December 31, 2019 is P428,640.
The carrying amount of the investment on December 31, 2020 is P5,500,000.
The cumulative unrealized gain OCI on December 31, 2020 is P592,931.
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On December 31, 2019, the amount to be recognized in revaluation surplus as a result of transfer of the building to investment property is P7,500,000.
On December 31, 2019, the amount to be recognized in revaluation surplus as a result of transfer of the building to investment property is P0.
On December 31, 2019, the amount to be recognized in profit or loss as a result of transfer of the land to investment property is P2,500,000
There is no depreciation expense in 2019 and 2020.
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825,000
930,000
700,000
785,000
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6,625,000
6,575,000
6,585,000
6,560,000
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7,800,000
6,800,000
5,800,000
4,800,000
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1,000,000
2,400,000
1,600,000
0
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Conceptual Framework for Financial Reporting
Preparation of Financial Statements
Presentation of Financial Statements
Preparation and Presentation of Financial Statements
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1,050,000
1,100,000
1,025,000
950,000
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15,500,000
11,100,000
8,700,000
9,900,000
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255,984
94,416
550,400
455,984
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117,500,000
125,000,000
105,000,000
119,750,000
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I Company is required to make an annual deposit of P1,673,640.
J Company is required to make an annual deposit of P1,419,560
M Company is required to make an annual deposit of P1,077,500
C Company’s investment on the date of maturity is P8,850,000 while N Company needs to deposit P4,000,000 now to provide the desired sum.
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324,800
297,500
273,000
265,800
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18,200,000
18,900,000
18,000,000
18,500,000
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2,550,000
2,700,000
2,800,000
3,050,000
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