首页 > 财会类考试

网友您好，请在下方输入框内输入要搜索的题目：

请输入或粘贴题目内容搜题

搜题

拍照、语音搜题，请扫码下载APP

题目内容（请给出正确答案）

[主观题]

On 1 May 2008 Simon House purchased a derelict freehold house for ￡127,000. Legal fees of

￡1,800 were paid in respect of the purchase.

Simon then renovated the house at a cost of ￡50,600, with the renovation being completed on 10 August 2008. He immediately put the house up for sale, and it was sold on 31 August 2008 for ￡260,000. Legal fees of ￡2,600 were paid in respect of the sale.

Simon fi nanced the transaction by a bank loan of ￡150,000 that was taken out on 1 May 2008 at an annual interest rate of 6%. The bank loan was repaid on 31 August 2008.

Simon had no other income or capital gains for the tax year 2008–09 except as indicated above.

Simon has been advised that whether or not he is treated as carrying on a trade will be determined according to the six following ‘badges of trade’:

(1) Subject matter of the transaction.

(2) Length of ownership.

(3) Frequency of similar transactions.

(4) Work done on the property.

(5) Circumstances responsible for the realisation.

(6) Motive.

Required:

(a) Briefl y explain the meaning of each of the six ‘badges of trade’ listed in the question.

Note: You are not expected to quote from decided cases. (3 marks)

(b) Calculate Simon House’s income tax liability and his Class 2 and Class 4 national insurance contributions for the tax year 2008–09, if he is treated as carrying on a trade in respect of the disposal of the freehold house.(8 marks)

(c) Calculate Simon House’s capital gains tax liability for the tax year 2008–09, if he is not treated as carrying on a trade in respect of the disposal of the freehold house. (4 marks)

答案

查看答案

发布时间：2023-07-06

更多“On 1 May 2008 Simon House purchased a derelict freehold house for ￡127,000. Legal fees of”相关的问题

第1题

（c) On 1 May 2007 Sirus acquired another company, Marne plc. The directors of Marne, who w

(c) On 1 May 2007 Sirus acquired another company, Marne plc. The directors of Marne, who were the only

shareholders, were offered an increased profit share in the enlarged business for a period of two years after the

date of acquisition as an incentive to accept the purchase offer. After this period, normal remuneration levels will

be resumed. Sirus estimated that this would cost them $5 million at 30 April 2008, and a further $6 million at

30 April 2009. These amounts will be paid in cash shortly after the respective year ends. (5 marks)

Required:

Draft a report to the directors of Sirus which discusses the principles and nature of the accounting treatment of

the above elements under International Financial Reporting Standards in the financial statements for the year

ended 30 April 2008.

点击查看答案

第2题

（ii) The percentage change in revenue, total costs and net assets during the year ended 31

(ii) The percentage change in revenue, total costs and net assets during the year ended 31 May 2008 that

would have been required in order to have achieved a target ROI of 20% by the Beetown centre. Your

answer should consider each of these three variables in isolation. State any assumptions that you make.

(6 marks)

点击查看答案

第3题

In January 2008 Arti entered in a contractual agreement with Bee Ltd to write a study manu

al for an international accountancy body’s award. The manual was to cover the period from September 2008 till June 2009, and it was a term of the contract that the text be supplied by 30 June 2008 so that it could be printed in time for September. By 30 May, Arti had not yet started on the text and indeed he had written to Bee Ltd stating that he was too busy to write the text.

Bee Ltd was extremely perturbed by the news, especially as it had acquired the contract to supply all of the

accountancy body’s study manuals and had already incurred extensive preliminary expenses in relation to the publication of the new manual.

Required:

In the context of the law of contract, advise Bee Ltd whether they can take any action against Arti.

(10 marks)

点击查看答案

第4题

The intelligence test used most often today are based on the work of a Frenchman, Alfred B

i net. In 1905, Binet was asked by the French Ministry of Education to develop a way to identify those children in French schools who were too "mentally deficient (不足的)" to benefit from ordinary schooling and who needed special education. The tests had to distinguish those who were merely be hind in school from those who were actually mentally deficient.

The items that Binet and his colleague Theophile Simon included on the test were chosen on the basis of their ideas about intelligence. Binet and Simon believed intelligence includes such abilities as understanding the meaning of words; solving problems, and making commonsense judgements. Two other important assumptions also shaped Binet' s and Simon' s work. (1) that children with more intelligence will do better in school and (2) that older children have a greater ability than younger children.

Binet' s first test consisted of thirty tasks. They were simple things most children learn as a re ;suit of their everyday experiences. The tasks were arranged in groups, according to age. Binet decided which tasks were appropriate for a given age group by giving them first to a large number of children of different ages. If more than half of the children of a given age passed a test, it was considered appropriate for that age group.

The main purpose of this passage is to ______.

A．tell the origin of intelligence tests

B．explain the basic principle of intelligence tests

C．describe the changes in the content of intelligence tests

D．state the development of intelligence tests

点击查看答案

第5题

3 On 1 January 2007 Dovedale Ltd, a company with no subsidiaries, intends to purchase 65%

of the ordinary share

capital of Hira Ltd from Belgrove Ltd. Belgrove Ltd currently owns 100% of the share capital of Hira Ltd and has no

other subsidiaries. All three companies have their head offices in the UK and are UK resident.

Hira Ltd had trading losses brought forward, as at 1 April 2006, of ￡18,600 and no income or gains against which

to offset losses in the year ended 31 March 2006. In the year ending 31 March 2007 the company expects to make

further tax adjusted trading losses of ￡55,000 before deduction of capital allowances, and to have no other income

or gains. The tax written down value of Hira Ltd’s plant and machinery as at 31 March 2006 was ￡96,000 and

there will be no fixed asset additions or disposals in the year ending 31 March 2007. In the year ending 31 March

2008 a small tax adjusted trading loss is anticipated. Hira Ltd will surrender the maximum possible trading losses

to Belgrove Ltd and Dovedale Ltd.

The tax adjusted trading profit of Dovedale Ltd for the year ending 31 March 2007 is expected to be ￡875,000 and

to continue at this level in the future. The profits chargeable to corporation tax of Belgrove Ltd are expected to be

￡38,000 for the year ending 31 March 2007 and to increase in the future.

On 1 February 2007 Dovedale Ltd will sell a small office building to Hira Ltd for its market value of ￡234,000.

Dovedale Ltd purchased the building in March 2005 for ￡210,000. In October 2004 Dovedale Ltd sold a factory

for ￡277,450 making a capital gain of ￡84,217. A claim was made to roll over the gain on the sale of the factory

against the acquisition cost of the office building.

On 1 April 2007 Dovedale Ltd intends to acquire the whole of the ordinary share capital of Atapo Inc, an unquoted

company resident in the country of Morovia. Atapo Inc sells components to Dovedale Ltd as well as to other

companies in Morovia and around the world.

It is estimated that Atapo Inc will make a profit before tax of ￡160,000 in the year ending 31 March 2008 and will

pay a dividend to Dovedale Ltd of ￡105,000. It can be assumed that Atapo Inc’s taxable profits are equal to its profit

before tax. The rate of corporation tax in Morovia is 9%. There is a withholding tax of 3% on dividends paid to

non-Morovian resident shareholders. There is no double tax agreement between the UK and Morovia.

Required:

(a) Advise Belgrove Ltd of any capital gains that may arise as a result of the sale of the shares in Hira Ltd. You

are not required to calculate any capital gains in this part of the question. (4 marks)

点击查看答案

第6题

（b) One of the hotels owned by Norman is a hotel complex which includes a theme park, a ca

(b) One of the hotels owned by Norman is a hotel complex which includes a theme park, a casino and a golf course,

as well as a hotel. The theme park, casino, and hotel were sold in the year ended 31 May 2008 to Conquest, a

public limited company, for $200 million but the sale agreement stated that Norman would continue to operate

and manage the three businesses for their remaining useful life of 15 years. The residual interest in the business

reverts back to Norman after the 15 year period. Norman would receive 75% of the net profit of the businesses

as operator fees and Conquest would receive the remaining 25%. Norman has guaranteed to Conquest that the

net minimum profit paid to Conquest would not be less than $15 million. (4 marks)

Norman has recently started issuing vouchers to customers when they stay in its hotels. The vouchers entitle the

customers to a $30 discount on a subsequent room booking within three months of their stay. Historical

experience has shown that only one in five vouchers are redeemed by the customer. At the company’s year end

of 31 May 2008, it is estimated that there are vouchers worth $20 million which are eligible for discount. The

income from room sales for the year is $300 million and Norman is unsure how to report the income from room

sales in the financial statements. (4 marks)

Norman has obtained a significant amount of grant income for the development of hotels in Europe. The grants

have been received from government bodies and relate to the size of the hotel which has been built by the grant

assistance. The intention of the grant income was to create jobs in areas where there was significant

unemployment. The grants received of $70 million will have to be repaid if the cost of building the hotels is less

than $500 million. (4 marks)

Appropriateness and quality of discussion (2 marks)

Required:

Discuss how the above income would be treated in the financial statements of Norman for the year ended

31 May 2008.

点击查看答案

第7题

Whospendsthemosttimeonhis（orher）hobbies（）

A.aniel

B.my

C.Simon

点击查看答案

第8题

Simon: What would you care for a drink？ Gary:______

Simon: What would you care for a drink？

Gary:______

点击查看答案

第9题

（）最早将“学习”一词引入组织理论。

A.Simon

B.Nonaka和Takeuchi

C.Argyris

D.Schon

点击查看答案

第10题

当前线上服务彻底无法使用了，开发进行了紧急抢修。以下说法正确的是（）

A.如果联系不到Simon，就不能上线

B.如果联系不到Simon，可以直接上线

C.开发自测-产品验收通过-产品申请上线-Simon批准-上线

D.小明说刚才Simon同意了，就可以上线

E.如果产品不在，开发完不用测也可以直接上线

F.紧急情况下，如果产品不在，开发可以自测来代替

点击查看答案

第11题

Simon: Are you coming to my birthday party tomorrow？ Gary;______, but I have to

Simon: Are you coming to my birthday party tomorrow？

Gary;______, but I have to finish my term paper first.

点击查看答案

账号：尚未登录

登录没有账号？去注册

购买搜题卡

考试指南全部 >

税务师考过了怎么领证快速了解北京税务师打印准考证官网操作步骤全国税务师职业资格考试报名网站官网 24年上海中级审计各科考试时间 2024年湖北中级审计师报名网址甘肃24年审计初级的考试时间湖北省初级审计师报名官网入口税务师审核通过后证书什么时候领如何在合肥打印税务师准考证？全面指南 2024税务师报名入口是什么？入口开通了吗？

下载APP

关注公众号

TOP